At its June 2025 plenary meeting, the Financial Action Task Force (FATF) updated its global watchlists for jurisdictions with deficiencies in anti-money laundering, terrorist financing, and weapons proliferation controls. The British Virgin Islands and Bolivia were added to the list of “Jurisdictions Under Increased Monitoring,” while Croatia, Mali, and Tanzania were removed. Iran, North Korea, and Burma remain classified as “High-Risk Jurisdictions Subject to a Call for Action,” with Iran and North Korea facing countermeasures and Burma subject to enhanced due diligence. FinCEN advises U.S. financial institutions to review these changes when assessing risk and to ensure compliance with U.S. AML regulations, especially regarding correspondent accounts with foreign financial institutions and obligations under U.S. sanctions and the Bank Secrecy Act. Institutions must not engage in indiscriminate de-risking but are expected to apply risk-based controls and file Suspicious Activity Reports when warranted. Read more here.
