The Financial Action Task Force (FATF) has published a public statement concerning Iran and the Democratic People’s Republic of Korea which are both jurisdictions that are 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 money laundering and terrorist financing risks emanating from these jurisdictions. The FATF public statement also discusses Algeria, Ecuador and Myanmar which it states are jurisdictions that have strategic anti-money laundering/countering the financing of terrorism (AML/CFT) deficiencies that have not made sufficient progress in addressing the deficiencies or have not committed to an action plan that has been developed with the FATF. The FATF calls on its members to consider the risks arising from the deficiencies associated with these jurisdictions.
The FATF has also published an update concerning the jurisdictions that it has identified to have strategic AML/CFT deficiencies for which it has developed an action plan.
View FATF Public Statement, 27 February 2015
View FATF – Improving Global AML/CFT Compliance: on-going process, 27 February 2015