International task force updates lists of countries with AML deficiencies

The Financial Action Task Force—an intergovernmental body that establishes international standards for anti-money laundering, countering the financing of terrorism and countering the financing of proliferation of weapons of mass destruction (AML/CFT/CPF)—has updated its lists of jurisdictions with strategic AML/CFT/CPF deficiencies, the Financial Crimes Enforcement Network said today.

FATF removed Nicaragua and Pakistan from its list of jurisdictions under increased monitoring and added the Democratic Republic of the Congo, Mozambique and Tanzania. The task force also added Burma to its list of high-risk jurisdictions subject to a call for action and called for enhanced due diligence, not countermeasures. Iran and the Democratic People’s Republic of Korea remain on the high-risk jurisdictions list and are still subject to FATF countermeasures.