The Reserve Bank of India vide circular dated March 1, 2023 has issued clarification regarding the Financial Action Task Force (FATF), public document on ‘High-Risk Jurisdictions subject to a Call for Action’. FATF had earlier identified the following jurisdictions as having strategic deficiencies and under Increased Monitoring, which had developed action plan with the FATF to deal with them.
These jurisdictions are: Albania, Barbados, Burkina Faso, Cambodia, The Cayman Islands, Democratic Republic of the Congo, Gibraltar, Haiti, Jamaica, Jordan, Mali, Morocco, Mozambique, Panama, Philippines, Senegal, South Sudan, Syria, Tanzania, Türkiye, Uganda, United Arab Emirates and Yemen. As per the February 24, 2023 FATF public statement, South Africa and Nigeria have now been added to this list of Jurisdictions under Increased Monitoring while Cambodia and Morocco have been removed from this list based on review by the FATF.
