The National Futures Association ("NFA") advised futures commission merchants and introducing brokers to review the updated Financial Action Task Force ("FATF") list of jurisdictions with strategic anti-money laundering and combating the financing of terrorism ("AML/CFT") deficiencies. The NFA advised its members to update their AML/CFT programs accordingly. The NFA notice follows a Financial Crimes Enforcement Network advisory which stated that changes to the FATF list may affect U.S. financial institutions' risk-based due diligence obligations concerning the affected jurisdictions.
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