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The Financial Action Task Force (FATF) has released its updated public statements on high-risk and other monitored jurisdictions as part of its ongoing efforts to combat money laundering and terrorist financing (AML/CFT).
The FATF’s latest update, titled “High-Risk Jurisdictions subject to a Call for Action”, calls on members and other jurisdictions to refer to the February 2020 statement regarding countries with strategic deficiencies. Previously, the jurisdictions identified with strategic AML/CFT deficiencies included Albania, Barbados, Burkina Faso, Cambodia, Cayman Islands, Haiti, Jamaica, Jordan, Mali, Malta, Morocco, Myanmar, Nicaragua, Pakistan, Panama, Philippines, Senegal, South Sudan, Syria, Turkey, Uganda, United Arab Emirates, and Yemen.
In the June 17, 2022 plenary, Gibraltar has been added to the “Jurisdictions under Increased Monitoring” list, while Malta has been removed following improvements in compliance. FATF emphasizes that these updates are advisory and do not preclude legitimate trade or business transactions with the listed jurisdictions.
The detailed statements and documents can be accessed on the FATF website:
Increased Monitoring – June 2022
Call for Action – June 2022
Outcomes of FATF Plenary – June 2022
About FATF:
Established in 1989, FATF is an inter-governmental body that sets global standards for combating money laundering, terrorist financing, and other financial crimes. It monitors member countries’ progress in implementing these measures and promotes adoption of effective AML/CFT frameworks worldwide. The FATF Plenary, its decision-making body, meets three times a year to review and update these public statements.
[RBI]