FATF Recommendations

From Sanctions Wiki

Share/Save/Bookmark
Jump to: navigation, search

Contents

FATF - February 22, 2013

Paris, 22 February 2013 - Public Statement

The Financial Action Task Force (FATF) is the global standard setting body for anti-money laundering and combating the financing of terrorism (AML/CFT). In order to protect the international financial system from money laundering and financing of terrorism (ML/FT) risks and to encourage greater compliance with the AML/CFT standards, the FATF identified jurisdictions that have strategic deficiencies and works with them to address those deficiencies that pose a risk to the international financial system.

FATF Non Cooperative

Jurisdictions subject to a FATF call on its members and other jurisdictions to apply counter-measures to protect the international financial system from the on-going and substantial money laundering and terrorist financing (ML/TF) risks emanating from the jurisdictions.

FATF High Risk

Jurisdictions with strategic AML/CFT deficiencies that have not made sufficient progress in addressing the deficiencies or have not committed to an action plan developed with the FATF to address the deficiencies. The FATF calls on its members to consider the risks arising from the deficiencies associated with each jurisdiction, as described below.

On Going Progress

<sort> Afghanistan Albania Algeria Angola Antigua and Barbuda Argentina Bangladesh Bolivia Brunei Darussalam Cambodia Cuba Kuwait Kyrgyzstan Mongolia Namibia Nepal Nicaragua Philippines Sri Lanka Sudan Thailand Zimbabwe </sort>

Jurisdictions no longer subject to the FATF’s on-going global AML/CFT compliance process

FATF - October 19, 2012

Paris, 19 October 2012 - FATF Public Statement

The Financial Action Task Force (FATF) is the global standard setting body for anti-money laundering and combating the financing of terrorism (AML/CFT). In order to protect the international financial system from money laundering and financing of terrorism (ML/FT) risks and to encourage greater compliance with the AML/CFT standards, the FATF identified jurisdictions that have strategic deficiencies and works with them to address those deficiencies that pose a risk to the international financial system.

FATF Non Cooperative

Jurisdictions subject to a FATF call on its members and other jurisdictions to apply counter-measures to protect the international financial system from the on-going and substantial money laundering and terrorist financing (ML/TF) risks emanating from the jurisdictions. <sort> Iran North Korea or DPRK </sort>

FATF High Risk

Jurisdictions with strategic AML/CFT deficiencies that have not made sufficient progress in addressing the deficiencies or have not committed to an action plan developed with the FATF to address the deficiencies. The FATF calls on its members to consider the risks arising from the deficiencies associated with each jurisdiction, as described below.

On Going Progress

October 19, 2012 - Pursuant to Ghana’s progress in largely addressing its action plan agreed upon with the FATF, Ghana is now identified in the FATF’s separate but related public document, “Improving Global AML/CFT Compliance: On-going Process.”

FATF - June 22, 2012

The FATF Recommendations of June 22, 2012 - Money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction are serious threats to security and the integrity of the financial system.

Rome, 22 June 2012 - The Financial Action Task Force (FATF) is the global standard setting body for anti-money laundering and combating the financing of terrorism (AML/CFT). In order to protect the international financial system from money laundering and financing of terrorism (ML/FT) risks and to encourage greater compliance with the AML/CFT standards, the FATF identified jurisdictions that have strategic deficiencies and works with them to address those deficiencies that pose a risk to the international financial system.

Public Statement June 22, 2012 & High-risk & non-cooperative jurisdictions

FATF Non Cooperative

June 22, 2012 - Jurisdictions subject to a FATF call on its members and other jurisdictions to apply counter-measures to protect the international financial system from the on-going and substantial money laundering and terrorist financing (ML/TF) risks emanating from the jurisdictions.

<sort> Iran North Korea or DPRK </sort>

FATF High Risk

June 22, 2012 - Jurisdictions with strategic AML/CFT deficiencies that have not made sufficient progress in addressing the deficiencies or have not committed to an action plan developed with the FATF to address the deficiencies. The FATF calls on its members to consider the risks arising from the deficiencies associated with each jurisdiction, as described below. <sort> Bolivia Cuba Ecuador Ethiopia Ghana Indonesia Kenya - Has not made sufficient progress since being identified in the Public Statement of June 2011. This jurisdictions should take significant actions by October 2012 Myanmar - Has not made sufficient progress since being identified in the Public Statement of June 2011. This jurisdictions should take significant actions by October 2012 Nigeria Pakistan São Tomé and Príncipe Sri Lanka Syria Tanzania Thailand Turkey - Has not made sufficient progress since being identified in the Public Statement of June 2011. This jurisdictions should take significant actions by October 2012 Vietnam Yemen </sort>

FATF On-Going Improvements

June 22, 2012 - Improving Global AML/CFT Compliance: on-going processs <sort>

Afghanistan
Albania 
Algeria
Angola
Antigua and Barbuda
Argentina
Bangladesh
Brunei Darussalam
Cambodia
Kuwait 
Kyrgyzstan
Mongolia
Morocco
Namibia
Nepal
Nicaragua
Philippines
Sudan
Tajikistan
Trinidad and Tobago
Venezuala
Zimbabwe

</sort>

FATF No longer subject to monitoring

June 22, 2012 - Jurisdictions no longer subject to monitoring

FATF - February 16, 2012

The FATF Recommendations of February 16, 2012 - Money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction are serious threats to security and the integrity of the financial system.

The FATF Standards have been revised to strengthen global safeguards and further protect the integrity of the financial system by providing governments with stronger tools to take action against financial crime while. At the same time, these new standards will address new priority areas such as corruption and tax crimes.

The revision of the Recommendations aims at achieving a balance:

The main changes are:

The FATF Recommendations are the basis on which all countries should meet the shared objective of tackling money laundering, terrorist financing and the financing of proliferation. The FATF calls upon all countries to effectively implement these measures in their national systems.

The FATF Recommendations - February 16, 2012 & FATF Press Release

Review of the FATF Standards & Perma Link to the FATF Page

US

February 16, 2012 - Treasury Under Secretary for Terrorism and Financial Intelligence David S. Cohen issued the following statement today:

“The United States welcomes the successful completion of the work of the Financial Action Task Force (FATF) to revise and strengthen its recommendations to combat the global threat of money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction. The FATF is the global standard-setting body for measures to combat these threats and today’s recommendations will be applied by more than 180 countries, through a global network of FATF-style regional bodies, as well as the International Monetary Fund (IMF) and the World Bank.

“The FATF recommendations have been revised to provide governments with stronger tools to take action against financial crime and protect the integrity of the international financial system. At the same time, these new standards address new priority areas such as proliferation finance, corruption, and tax crimes. The revisions reflect a risk-based approach, strengthening safeguards in areas that pose higher risks, and providing more flexibility to simplify measures in areas that pose a low risk for abuse. Key new measures include the following:

“The FATF’s issuance of these revised global standards is an important development in the international community’s efforts to protect the international financial system, combat money laundering, terrorist financing, and the financing of proliferation. The United States looks forward to joining countries throughout the world in implementing these new standards.”

US Department of State Press Release

Personal tools
Namespaces
Variants
Actions
Navigation
Toolbox
Useful Links
  • DSpecially Designated Nationals
						and Blocked Persons List Search
  • Database containing United Nations Security Council Resolutions
  • The UN Refugee Agency
  • European Union External Actiony
  • UK Financial Sanctions
  • UK Financial Sanctions (AFU)
  • Office of Foreign Assets Control of the US Department of the Treasury administers and enforces economic and trade sanctions
  • Bureau of Industry and Security
  • Financial Crimes Enforcements Network
  • International Traffic in Arms Regulations
  • Canada Sanctions
  • Australia Sanctions
  • New Zealand Sanctions
  • Swiss Sanctions
  • Norway Sanctions
  • MOFA Japan Sanctions
  • MAS
  • Hong Kong Monetary Authority
  • Financial Action Task Force
  • OECD
  • Bank for International Settlement
  • The Wolfsberg Group
  • The Egmont Group
  • Sipri
  • #
  • Human Righst Watch
  • Global Witness
  • Warchild
  • Wassenaar Arrangement
  • Export Control
  • The Trade Wiki
  • Export Screening
  • International Tradelaw News
  • Critical Threats
  • Equasis
  • Vesseltracker
  • World Check