FATF:n yleis- ja työryhmäkokoukset 2020
October 2020
A summary of the issues discussed and decided by the Plenary in October 2020 is available on the FATF website.
On August 2nd, 2020, the FATF decided to pause the review process for the list of High-Risk Jurisdictions subject to a Call for Action. These high-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members to apply enhanced due diligence, and in the most serious cases, countries are called upon to apply counter-measures to protect the international financial system from the ongoing money laundering, terrorist financing, and proliferation financing risks emanating from the country. This list is often externally referred to as the “black list”.
Due to the general pause in the review process, the FATF refers to its statement published in February 2020. Even though the statement doesn't necessarily reflect the current status in Iran and Democratic People's Republic of Korea (DPRK) related to counter money laundering and terrorist financing, the FATF remains in force its Call for Action.
The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. The FATF does not call for the application of enhanced due diligence to be applied to these jurisdictions, but encourages its members to take into account the observations made by the FATF in their risk analysis. This list is often externally referred to as the "grey list".
In response to the COVID-19 pandemic, the FATF gave the option for jurisdictions under increased monitoring to not report at the meeting held in October 2020. For the countries, which chose to report, updated statements are provided. For countries, which chose to defer their reporting, the statements issued in February 2020 apply, but they may not necessarily reflect the most recent status of the jurisdiction’s AML/CFT regime.
Jurisdictions no longer subject to monitoring: Iceland and Mongolia.
June 2020
A summary of the issues discussed and decided by the Plenary in June 2020 is available on the FATF website.
At its meeting on 28 April 2020, in response to the COVID-19 crisis, the FATF decided on a general pause in the review process regarding jurisdictions subject to a FATF call on its members to apply measures. These high-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members to apply enhanced due diligence, and in the most serious cases, countries are called upon to apply counter-measures to protect the international financial system from the ongoing money laundering, terrorist financing, and proliferation financing risks emanating from the country. This list is often externally referred to as the “black list”.
Due to the general pause in the review process, the FATF refers to its statement published in February 2020. Even though the statement doesn't necessarily reflect the current status in Iran and Democratic People's Republic of Korea (DPRK) related to counter money laundering and terrorist financing, the FATF remains in force its Call for Action.
The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. The FATF does not call for the application of enhanced due diligence to be applied to these jurisdictions, but encourages its members to take into account the observations made by the FATF in their risk analysis. This list is often externally referred to as the "grey list".
In response to the COVID-19 crisis, on 28 April 2020, the FATF decided on a pause in the review process for the list of Jurisdictions subject to Increased Monitoring by granting jurisdictions an additional four months for deadlines. However, Iceland and Mongolia requested to maintain their original schedule. As a result, the FATF updated its statement with respect to these two countries only. The remainder of the statement identifying Jurisdictions subject to Increased Monitoring remain unchanged from February 2020.
February 2020
A summary of the issues discussed and decided by the Plenary in February 2020 is available on the FATF website.
At its meeting on 21 February 2020, the FATF made a Public Statement on jurisdictions subject to a FATF call on its members to apply measures. These high-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members to apply enhanced due diligence, and in the most serious cases, countries are called upon to apply counter-measures to protect the international financial system from the ongoing money laundering, terrorist financing, and proliferation financing risks emanating from the country. This list is often externally referred to as the “black list”.
High-Risk Jurisdictions subject to a Call for Action: Democratic People's Republic of Korea (DPRK) and Iran.
The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. The FATF does not call for the application of enhanced due diligence to be applied to these jurisdictions, but encourages its members to take into account the observations made by the FATF in their risk analysis. This list is often externally referred to as the "grey list".
New jurisdictions subject to increased monitoring: Albania, Barbados, Jamaica, Mauritius, Myanmar, Nicaragua, Uganda.
Jurisdiction no longer subject to increased monitoring: Trinidad and Tobago.