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by Imad Habre



Confidential    Provided by: Imad Habre
7/13/2020

The FATF decided on a general pause in the review process for the list of high-risk jurisdictions subject to a call for action. Therefore, please refer to the list of High-Risk Jurisdictions subject to a Call for Action adopted in February 2020. While the statement may not necessarily reflect the most recent status in Iran and the Democratic People’s Republic of Korea’s AML/CFT regime, the FATF’s call for action on these high-risk jurisdictions remains in effect. Detailed information can be found at FATF website in the following links:

  • Jurisdictions under Increased Monitoring jurisdictions - Jurisdictions under increased monitoring are actively working with the FATF to address strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing. Again, on 28 April, the FATF decided on a general pause in the review process for the list of jurisdictions under increased monitoring.

The statement on Jurisdictions under Increased Monitoring, adopted in February 2020 remains in effect for the following jurisdictions identified at that time

  • Albania
  • The Bahamas
  • Barbados
  • Botswana
  • Cambodia
  • Ghana
  • Jamaica
  • Mauritius
  • Myanmar
  • Nicaragua
  • Pakistan
  • Panama
  • Syria
  • Uganda
  • Yemen
  • Zimbabwe

At its June 2020 Plenary, the FATF made the initial determination that Mongolia and Iceland have substantially completed their action plan and warrant an on-site assessment to verify that the implementation of Mongolia’s and Iceland’s AML/CFT reforms have begun and are being sustained, and that the necessary political commitment remain in place to sustain implementation in the future. 

In view of the above, obliged entities are required to apply the enhanced due diligence measures with regard to transactions and business relationships with persons from the countries referred to in the public statement of the FATF issued on  21 February 2020, consistent with FATF Recommendation 19.