Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697631820729.pdf (Antigua and Barbuda)
ANTIGUA AND BARBUDA NATIONAL OVERSIGTIT COMMITTEE ON FINANCIAL ACTION NOCFA ONDCP; FSRC; ECCB To: And to: Financial Institutionsl Dated: 10 December202l ADVIS on Jurisdictions with Deficiencies This Advisorv is issued bv NOCFA to its Members oursuant to the mandate to Resulators should disseminate the information herein to the finaricial instituti consideration in their business activities as required by law.4 It should also be The Advisory relates to foreign jurisdictions witlr AML/CFTs deficiencies and i (ii) jurisdictions under increased monitoring due to strategic deficiencies The Advisory sets out actions to be implemented and where needed, Govemment departnents.
Responding to this Advisory 1.

Supervisors and Regulators nnust distribute 3.

2. supervise/regulate.

Financial Institutions to whorn this Advisorv i receipt to the authority that provides it.
Financial Institutions should take this Advi transactions or business involving the jurisdict upon, apply enhanced, proportionate due dili PART 1 - High Risk Jurisdictions Subject FATF Public Statement of October 2021 (first ish advisories under its Terms ofReference.2 Supervisors and ich they supervise to enable them to take the information into to Govemment Deparbnents and stafutory bodies.
(i) High-riskjurisdictions subject to a call for action and to be taken by regulated financial institutions and Advisory to the entities they provided are required to acknowledge into account when considerins referred to herein (and where called nce).

a Call for Action 2l February 2020) High-risk jurisdictions have significant strategic terrorist financing, and financing of proliferation.
For es in their regimes to counter money laundering, countries identified as high-risk, the FATF calls on I See First Schedule ofthe Money Laundering (Prevention) Act 1996 and 2 "ln furtherance of its obiective.

the NOCFA shall:- ofthe Prevention ofTenorism Act 2005.
3. act as a coordination task force, taking measur,es including publication Authorities understand their respective supervisory role and responsibil I See financial institutions as defined in the First Schedule of the Money Tenorism Act 2005. aReg.

"6(1a) (l) [A financial institution] must pay special attention to which [the financial institution] knows or has reason to believe or the financine of tenorism.
(2) Ifthe Supervisory Authority notifies [a financial institution] financial institution] must pay special a.ttention to business (lb) Where transactions have no apparent economic or visible lawful the background and purpose ofsuch tansaotions, and written (1c) [A financial institution] should adhere to any countermeasures implemented."
5 AML/CFT: anti-money laundering/counter tenorist financing isories, notices and countermeasures to ensure that relevant (Prevention) Act 1996 and section 2 ofthe Prevention of relationships and transactions with persons from or in countries iently apply intemational standards against money laundering a country has weaknesses in its AML/CFT systems, then [the ships and transactions from or in that country.
[the financial institution] should examine as far as possible should be kept as a financial transaction document.

the Supervisory Authority or the regulator advises should be all members and urges all jurisdictions to apply enhanced due diligence, and in the most serious cases, countries are called upon to apply rcounter-measures to protect the international financial system from the ongoing money laundering, terrorist financing, and proliferation financing (ML/TF/PF)5 risks emanating from the country.

1.
1.

DEMOCRATIC PEOPLE'S REPUBLIC OF'KOREA (DPRK) The FATF remains concerned by the DPRK's failure to address the significant deficiencies in its anti-money laundering and combating the financing of terrorism (AML/CFT) regime and the serious threats they pose to the integrity of the international financial system.

The FATF urges the DPRK to immediately and meaningfully address its AML/CFT deficiencies.
Further, the FATF has serious concerns with the threart posed by the DPRK's illicit activities related to the proliferation of weapons of mass destruction (WMDs) and its financing.

The FATF reaffirms its 25 February 20L1.

call on its members and urges alljurisdictions to advise their financial institutions to give special attention to business relationships and transactions with the DPRK, including DPRK companies, financial institutions, and those acting on their behalf.
In addition to enhanced scrutiny, the FATF further calls on its members and urges alljurisdictions to apply effective counter-measures, and targeted financial sanctions in accordance with applicable United Nations Security Council Resolutions, to protect their financial sectors from money laundering, financing of terrorism and WMD proliferation financing (ML/TF/PF) risks emanating from the DPRK.

Jurisdictions should take necessary measures to close existing branches, subsidiaries and representativr-.
offices of DPRK banks within their territories and terminate correspondent relationships wilth DPRK banks, where required by relevant UNSC resolutions.

2.

IRAN In iune 2015, lran committed to address its strategic deficiencies.

lran's action plan expired in January 2018.

In February 2020, the FATF noted lran has not completed the action plan.
[L] In October 2019, the FATF called upon its members and urged all jurisdictions to: require increased supervisory examination for branches and subsidiaries of financial institutions based in lran; introduce enhanced relevant reporting mechanisms or systematic reporting of financial transactions; and require increased external audit requirements for financial groups with respect to any of their branches and suhsidiaries located in lran.
Now, given lran's failure to enact the Palermo and Terrorist Financing Conventions in line with the FATF Standards, the FATF fully lifts the suspension of counter-measures and calls on its members and urges all jurisdictions to apply effective counter-measures, in line with Recommendation Le.I2l lran will remain on the FATF statement on [High Risk Jurisdictions Subject to a Call for Action] until the full Action Plan has been completed.
lf lran ratifies the Palermo and Terrorist Financing Conventions, in line with the FATF standards, the FATF will decide on next steps, including whether to suspend countermeasures.

Until lran implements the measures required to address the deficiencies identified with respect to countering terrorism-financing in the Action Plan, the FATF will remain concerned wilth the terrorist financing risk emanating from lran and the threat this poses to the international financial system.
6 Section 7A ofthe Prevention ofTenorism Act (PTA) prohibits transactions with specified entities.

Section 20B ofthe PTA prohibits making funds available to specified entities.
"specified entity" means a person or entity in respect ofwhich an order under section 3(2) has been made by the Attomey General, or is deemed by reason of the operation of section 4(2) to have been made by the Minister of Foreign Affairs, and is in force: PART 2 - Jurisdictions under lncreased Monitoring FATF Statement of October 2021on Jurisdictions under increased monitoring Jurisdictions under increased monitoring are actively working with the FATF to address strategic deficiencies in their regimes to rcounter money laundering, terrorist financing, and proliferation financing.
When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring.

Since the start of the COVID-19 pandemic, the FATF has provided some flexibility to jurisdictions not facing immediate deadlines to report progress on a voluntary basis.
The following countries had their progress reviewed by the FATF since June2O2L: Albania, Barbados, Botswana, Carhbodia, Cayman lslands, Jamaica, Malta, Mauritius, Morocco, Myanmar, Nicaragua, Pakistan, Panama, Philippines, Senegal, Uganda, and Zimbabwe.

For these countries, updated statements are provided below.
Burkina Faso, Haiti, and South Sudan were given the opportunity and chose to defer reporting; thus, the statements i:;sued in February and June 2O2Ifor these jurisdictions are included below, but they may not necessarily reflect the most recent status of the jurisdiction's AML/CFT regime.

Following review, the FATF now also identifies Jordan, Mali, and Turkey.
(click on country name below to Bo to FATF online country report or go directly to the FATF website for details) Jurisdictions with strategic deficiencies Jurisdiction no longer subject to increased monitoring Botswana Mauritius Albania Barbados Burkina Faso Cambodia Cayman lslands Haiti Jamaica Jordan Mali Malta Morocco Mvanmar Njcafaeua Pakistan Panama Philippines Senetol 59!
!I' Jldan Svria Turkey U@da Yemen Zimbabwe PART 3 Jurisdictions under the CFATF ICRGT Process CFATFs Public Statement of Plenarv November 2021 [none] CFATF Public Statement of Plenarv 11 December2020 furisdiction exiting the Third Round of twutual Evaluations Sint Maarten The CFATF LI Plenary recognised that iSint Maarten has made significant progress in ad,ilressing the deficiencies identilied in its 2013 Mutual Evaluation Report; therefore, Sint Maarten has exited the 3'd Round FoIIow-Up Process.
7 Intemtional Co-operation Review Group 8 The Caribbean Financial Action Task Force (CFATF) is an organisation oftwenty-fivejurisdictions ofthe Claribbean Basin Region, which have agreed to itnplement the iuternational standards on Cornbatting Money Laundering and the Financing ofTerrorism & Proliferation (The FATF Recommendations).
ln order to protect the intemationril financial systenr from rnoney laundering and financing of terrorism (ML/FT) risks and to encourage greater contpliance with the AML/CFT stanLdards, the CFATF identifies jurisdictions that have strategic deficiencies and works with them to address those deficiencies thal pose a risk to ttre intemational linancial svstenr.
NOCFA Guidance: Complementing the requirements institutions should pay special jurisdictions, bearing in mind - (al lt is an offence for a financial declared specified entities or suspected of being engaged in tlhe 7A(1) of the Prevention of T (Amendment) Act No.

1l of 20201.

(b) lt is an offence for anyone to make proliferation entity any funds, unless authorized by a relevant 208(a) and (2) of the Prevention of Terrorism (Amendment)Act No.
11 (c) Where a financial institution is u financing of terrorism or the proceeding with it.

Financial titled "lndicators of Possible Authority on 12 December 2Ot7.
(d) "specified entity" is a person or of Foreign Affairs under section jurisdictions listed in PART 1 above, financial to individuals and entities connected to these to engage in any transactions with persons or entities entities by the Minister of Foreign Affairs or of WMD (a proliferation entitye) - see section Act [amended by section 7 of the Prevention of Terrorism for the benefit of a specified entity or economic resources, or financial or other related services Nations Security Council Resolution - see sections Act [amended by section 11 of the Prevention of 20201. to satisfy itself that a transaction is not related to the of the proliferation of WMD then it should consider not should review the Appendix to the MLFT Guidelines Financing"10, issued by the ONDCP Supervisory declared to be a specified entity by order of the Minister of the Prevention of Terrorism Act.
(e) "proliferation entity" is a person or proliferation of weapons of mass Minister of Foreign Affairs under engaged in the proliferation of or the financing of the or declared to be a proliferation entity by the (3) of the Prevention of Terrorism Act.

Edward Croft On behalf of the National Oversight Committee on Financial Action e "proliferation entity" is a person or entity engaged in the 10 www.onocp.gov.ag feration of or the financing of the proliferation of "weapons of mass destruction"