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The Financial Action Task Force (FATF) is the global standard setting body for anti-money laundering and combating the financing of terrorism (AML/CFT). The FATF produces two public documents which are issued three times a year. These public documents are the FATF’s Public Statement and the document, Improving Global AML/CFT Compliance: Ongoing Process. The most current statements were issued on February 27, 2015 The “FATF Public Statement” identifies jurisdictions that have strategic deficiencies. The Public Statement also reaffirms its call on its members and other jurisdictions to apply appropriate countermeasures against Iran and the Democratic People’s Republic of Korea (DPRK). A copy of the FATF Public Statement can be accessed by link: Algeria, Ecuador, and Myanmar has also been identified jurisdictions with strategic AML/CFT deficiencies that have not made sufficient progress in addressing the deficiencies or have not committed to an action plan developed with the FATF to address the deficiencies. The Commission wishes to advise the general public, including all regulated and other persons who are required to comply with the requirements of the Anti-Money Laundering and Prevention of Terrorist Financing Regulations, 2010 (as amended) and the Anti- Money Laundering and Prevention of Terrorist Financing Code 2011, to note money laundering and/or terrorist financing risks associated with each jurisdiction and to apply enhanced customer due diligence measures when dealing with customers or transactions involving companies or institutions connected with any of the jurisdictions that have been identified by the February 27, 2015 FATF Public Statement. The FATF statement, “Improving Global AML/CFT Compliance: On-Going Process”, relates to jurisdictions that have committed to working with the FATF to improve their AML/CFT frameworks. These jurisdictions are Afghanistan, Angola, Guyana, Indonesia, Irag, Lao PDR, Panama, Papua New Guinea, Sudan, Syria and Yemen. However, it notes that Uganda is not making sufficient progress with improving its AML/CFT regime. It also notes that Albania, Cambodia, Kuwait, Namibia, Nicaragua, Pakistan and Zimbabwe has made significant progress in improving its respective AML/CFT regime and are no longer subject to the FATF’s ongoing global AML/CFT compliance process A copy of the FATF Compliance Statement, “Improving Global AML/CFT Compliance: On-Going Process” can be accessed by link:

J. Kevin Higgins Managing Director