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 added Cameroon, Croatia and Vietnam to its list of jurisdictions under increased monitoring. It did not remove any jurisdictions from the list. The task force’s list of high-risk jurisdictions subject to a call for action remains the same, with Iran and North Korea still subject to FATF’s countermeasures. Burma remains on the list and is still subject to enhanced due diligence, not counter-measures. FATF also reiterated that all jurisdictions should be vigilant to current and emerging risks from the circumvention of measures taken against Russia.