- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-06-23T18:49:00
The Financial Action Task Force (FATF) added Cameroon, Croatia, and Vietnam as part of the latest updates to its so-called “grey list” of jurisdictions under increased monitoring for money laundering, terrorist financing, and proliferation financing.
The designations, announced in a press release Friday, bring to 26 the list of countries working with the global money laundering and terrorism financing watchdog to resolve deficiencies identified in their anti-financial crime regimes.
“The FATF does not call for the application of enhanced due diligence measures to be applied to these jurisdictions,” the organization said, instead suggesting its members apply a risk-based approach in their dealings in the regions.
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Jamaica and Türkiye made “significant progress” addressing deficiencies in their anti-money laundering/countering the financing of terrorism (AML/CFT) programs, warranting their removal from the Financial Action Task Force’s grey list.
Kenya was one of two African countries included in the Financial Action Task Force’s latest update to its list of jurisdictions under increased monitoring for money laundering and terrorist financing, while the United Arab Emirates was among four countries removed.
Bulgaria is the latest country to be identified by the Financial Action Task Force as a jurisdiction under increased monitoring for money laundering and terrorist and proliferation financing.
Swedish telecommunications giant Ericsson announced the conclusion of the independent compliance monitorship imposed on the company following its 2019 settlement for violations of the Foreign Corrupt Practices Act.
Former Albemarle CCO Andrew McBride explained at Compliance Week’s 2024 National Conference how he led the company’s compliance department to remediate the issues that led to apparent FCPA violations and how the team used data analytics to assess risks and implement compliance solutions.
Swedish telecommunications company Ericsson announced its independent monitor appointed by the Department of Justice certified its compliance program satisfies the requirements ordered by the U.S. agency following its 2019 Foreign Corrupt Practices Act settlement.
