As criminals are constantly adapting new methods of money laundering and terrorist financing, therefore based on legal powers described under the articles # 32 & 24 of the Anti Money Laundering and Proceeds of Crime Law and the details described in Annex III of the AML/CFT Responsibilities and Preventative Measures Regulation, FinTRACA established the database called “FinTRACA Watch-list” and releases the list of high risk subjects to Financial Institutions in order to remain alert of the evolving threats:
Following is the statistical summary of designated subjects since July 2017:
Reporting entities should note that this list is not exhaustive and may be changed/ updated on regular basis. “FinTRACA Watch-List” may not include UNSCR designations, OFAC or any other foreign sanction lists. This watch list doesn’t bypass the responsibilities of financial institutions against foreign sanctions regime or any other instruction issued by the competent local authority (ies). Financial institutions are still obliged to follow the laws, regulations, internal policies and mutual commitments with the national and international counterparts.
Updated on: May 2018