FATF plenary meeting, Brisbane

logo_en fatfAt the plenary meeting in Brisbane, FATF:

– confirmed Iran and North Korea remain subject to countermeasures;
– named Algeria and Myanmar as jurisdictions with significant deficiencies that have not made enough progress in addressing them;
– noted Afghanistan, Angola, Bosnia and Herzegovina, Ecuador, Guyana, Iraq (which it notes as making insufficient progress), Laos, Panama, Papua New Guinea, Sudan, Syria, Uganda and Yemen as countries it is closely monitoring; and
– named Indonesia as a country that has now made sufficient progress for FATF to remove it from the monitoring list;
– looked at the causes of derisking. It will carry out further work, but has noted specifically the need to address how its standards on correspondent banking can work alongside its standards on due diligence;
– published guidance on a risk-based approach to virtual currencies; and
– updated on recent evaluations, new members and ongoing work.
Korea has now taken over the Presidency of FATF.

more: FATF Updates Advices


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