FATF updates on NCCTs and developments

FATF has held its plenary meeting in Buenos Aires. Outcomes from the meeting include:

  • an update on the list of NCCTs. FATF’s stance remains unchanged on North Korea and Iran. Countries with Strategic Deficiencies are now listed as Bosnia and Herzegovina, Ethiopia, Iraq, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, Vanuatu and Yemen. Uganda, however, has improved its regulatory framework and is no longer to be subject to the ongoing compliance process;
  • adopting a report on the financing of recruitment for terrorist purposes;
  • mutual evaluations and follow ups on Mexico, Portugal and Austria, and an update on Brazil’s progress;
  • revisions to the FATF methodology; and
  • activities to encourage dialogue between the public and private sectors.

Emma Radmore