FATF plenary updates AML control reviews

At the most recent plenary meeting, FATF as usual reviewed its list of jurisdictions with AML deficiencies.  Although still disappointed with Iran’s lack of progress, it has continued the suspension of countermeasures, so that countermeasures apply in relation to North Korea, and EDD on a risk-based approach in relation to Iran. Otherwise, the countries with strategic deficiencies are the Bahamas, Botswana, Cambodia, Ethiopia, Ghana, Pakistan, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisa and Yemen.  Otherwise, FATF noted the recent efforts made by Brazil to address identified issues, and updated on recent mutual evaluations.

Other initiatives include consultations on risk-based guidance for professional services providers, and a new interpretive note on mitigating the risks of virtual assets.


Emma Radmore