Article
Outcome FATF Plenary of 21-23 June 2017
On 23 June 2017 the Financial Action Task Force (FATF) published a statement on the outcome of its plenary meeting in Valencia.
Article from Regulatory Newsflash of 6 July 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
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