FATF Public Statement on The Financing of Isil, Al-Qaeda & Affiliates and Notice on The List of High-Risk Countries

26 October 2021

NBFIRA 3/3/5-I (71)

To: AML/CFT Compliance Officers

Dear Sir/Madam,

FATF PUBLIC STATEMENT ON THE FINANCING OF ISIL, AL-QAEDA & AFFILIATES AND NOTICE ON THE LIST OF HIGH-RISK COUNTRIES

1. Your attention is brought to the above subject matter. The Financial Action Task Force (FATF) on 21st October 2021 issued a public statement on the financing of ISIL, Al Qaeda and Affiliates. The statement is published in the FATF website on the below link and copy is attached marked “Annexure A”.
http://www.fatf-gafi.org/publications/fatfgeneral/documents/statement-isil-al-qaeda.html

2. A guidance on terrorism financing can be accessed on the below link;
http://www.fatf-gafi.org/media/fatf/documents/reports/Terrorist-Financing-Risk-Assessment-Guidance.pdf

3. Further, the Financial Intelligence Agency (FIA), through section 6(2)(i) of the FI Act of 2019 communicates to specified parties (NBFIs) through NBFIRA, the list of high-risk countries published by the FATF as of October 2021. The list is attached and marked “Annexure B”. The countries are categorised as follows;

I. Jurisdictions under Increased Monitoring (Grey List) Countries with weak AML/CFT&P systems, and consequently under increased monitoring. The list is often referred to as the “grey list”.

II. High Risk Jurisdictions subject to a Call for Action (Black List) Countries identified by FATF as high-risk jurisdictions since they have significant strategic deficiencies in their regimes to counter ML/TF/PF. The list is often referred to as the black list.

The lists are accessible at;- https://www.fatf-gafi.org/publications/high-risk-and-other-monitored-jurisdictions/documents/call-for-action-october-2021.html

4. All NBFIs are required to conduct enhanced due diligence (EDD) as per section 17(1)(b), (h) of the FI Act,2019 and protect the domestic and financial system from the money laundering, terrorist financing and proliferation financing (M/TF/PF) risks emanating from these countries.

Yours faithfully
_____________________________
Motsisi Mongati
Head of Department- AML/CFT
Contact persons; amlcft@nbfira.org.bw