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 (ML/TF) risks emanating from the jurisdictions of: -
The following jurisdictions have been identified as not having made sufficient progress in addressing deficiencies or have not committed to an action plan developed with the FATF to address the deficiencies. FATF calls on its members to consider the risks arising from the deficiencies associated with: -
If the following jurisdiction does not take sufficient action to implement significant components of its action plan by February 2014, then the FATF will identify this jurisdiction as being out of compliance with its agreed action plans and will take the additional step of calling upon its members to consider the risks arising from the deficiencies associated with the jurisdiction. The jurisdiction is: -
FATF identifies a number of jurisdictions which have strategic AML/CFT deficiencies for which they have developed an action plan with the FATF. While the situations differ among each jurisdiction, each jurisdiction has provided a written high- level political commitment to address the identified deficiencies. The jurisdictions are: -
Morocco and Nigeria are no longer subject to FATF’s monitoring process under its on-going global AML/CFT compliance process
Given the small size of this country’s financial sector and its low impact on the international financial system, the FATF have decided that Sao Tome and Principe are removed from the list although it should continue to work closely with GIABA to address its remaining AML/CFT deficiencies.