Outcome FATF Plenary of 21-23 June 2017

Introduction

Below is an overview of the main issues addressed in the statement on the outcome of the plenary meeting.

Main issues dealt with

• Work on combating terrorist financing
• Work on improving transparency and beneficial ownership
• Impact of recent FATF work on de-risking
• Mutual evaluation reports of Denmark and Ireland
• Jurisdictions that may pose a ML/FT risk:
  • List of jurisdictions that have strategic AML/CFT deficiencies for which they have developed an action plan with the FATF: Afghanistan and Lao PDR have been removed from the list ⁽¹⁾
  • 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 (ML/FT) risks: Democratic People's Republic of Korea (North Korea) remains on the list
  • Jurisdictions subject to a FATF call on its members and other jurisdictions to apply enhanced due diligence measures proportionate to the risks arising from the jurisdiction: Iran remains on the list

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(1) Following countries remain on the list: Bosnia and Herzegovina, Ethiopia, Iraq, Syria, Uganda, Vanuatu, Yemen

Interested in further information?

If you are interested in a further discussion on the impact of geographical risks or in a specific training on the management of sanctions and embargoes, you can always contact our dedicated specialists: Caroline Veris, Edwin Somers or Inneke Geyskens-Borgions.