The Financial Action Task Force (FATF) has updated its list of jurisdictions containing anti-money laundering and counter financing of terrorism (AML/CFT) deficiencies.
The task force has updated two documents categorising certain jurisdictions.
The first category identifies jurisdictions subject to FATF’s call for countermeasures or that are subject to enhanced due diligence due to AML/CFT deficiencies.
The second category deals with jurisdictions that have developed an action plan with the FATF to address strategic AML/CML deficiencies.
The task force has removed Myanmar from its list of countries of most concern, instead putting it on FATF’s Improving Global AML/CFT Compliance list.
Other countries on the same list include Afghanistan, Bosnia and Herzegovina, Guyana, Iraq, Lao PDR, Papua New Guinea, Syria, Uganda, Vanuatu and Yemen.
Algeria, Angola, and Panama were removed from the Improving Global AML/CFT Compliance list.
Iran and North Korea remain listed as subject to countermeasures on the FATF Public Statement.
Categories: Trade Based Financial crimes News