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FATF Statement on High-Risk Jurisdictions subject to a Call for Action and document
23 Jul 2020The Financial Action Task Force (“FATF”), the global standard-setting body for anti-money laundering and combating the financing of terrorism (“AML/CFT”), on 28 April 2020, decided on a general pause in the review process for the list of high-risk jurisdictions and the list of jurisdictions under increased monitoring. On 30 June 2020, the FATF published the following documents:
FATF Statement on High-Risk Jurisdictions subject to a Call for Action
- The FATF seeks member jurisdictions to refer to the Statement on High-Risk Jurisdictions adopted in February 2020 (“the Statement”) (http://www.fatf-gafi.org/publications/high-risk-and-other-monitored-jurisdictions/documents/call-for-action-february-2020.html). While the Statement may not necessarily reflect the most recent status in the Democratic People’s Republic of Korea and Iran’s AML/CFT regime, the FATF’s call for action on these high-risk jurisdictions remains in effect.
Jurisdictions under Increased Monitoring
- The statement on Jurisdictions under Increased Monitoring adopted in February 2020 (http://www.fatf-gafi.org/publications/high-risk-and-other-monitored-jurisdictions/documents/increased-monitoring-february-2020.html) remains in effect for the jurisdictions (except Iceland and Mongolia) identified at that time : Albania, The Bahamas, Barbados, Botswana, Cambodia, Ghana, Jamaica, Mauritius, Myanmar, Nicaragua, Pakistan, Panama, Syria, Uganda, Yemen, Zimbabwe.
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