- FATF Public Statement February 2019
- Improving Global AML/CFT Compliance: on-going process – 22 February 2019
Several jurisdictions have shown their commitment to seriously addressing the identified deficiencies. Others have made less progress, such as the jurisdictions that the FATF listed in its Public Statement. These jurisdictions are showing serious deficiencies. The public statement of October refers to specifically. De Nederlandsche Bank (DNB) and the Ministry of Finance want to stress that more stringent measures are needed when maintaining business relations with residents of these jurisdictions, or carrying out transactions to or from these jurisdictions.
The FATF remains concerned by the Democratic People’s Republic of Korea’s (DPRK) failure to address the significant deficiencies in its anti-money laundering and combating the financing of terrorism (AML/CFT) regime and the serious threats they pose to the integrity of the international financial system. FATF calls on its members and other jurisdictions to apply enhanced due diligence measures proportionate to the risks arising from this jurisdiction.
Iran has provisionally been taken off the list for countries which require stringent counter-measures. FATF has suspended counter-measures in order to monitor Iran’s progress. In February 2019, the FATF noted that there are still items not completed and Iran should fully address. The FATF decided at its meeting in February to continue the suspension of counter-measures. If by June 2019, Iran does not enact the remaining legislation in line with FATF Standards, then the FATF will require increased supervisory examination for branches and subsidiaries of financial institutions based in Iran. FATF urges to continue to apply enhanced customer due diligence.
The "Improving global AML/CFT compliance" document contains a list of jurisdictions that have serious deficiencies in their AML/CFT regimes but have committed themselves to addressing them. This list includes the following jurisdictions: The Bahama’s, Cambodia, Ethiopia, Ghana, Pakistan, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia and Yemen.
Financial institutions are expected to take account of specific circumstances when deciding on the necessary AML/CFT measures. They should refer to DNB's Q&A on FATF Waarschuwingslijsten for this purpose.
If necessary, the FATF will review its warning lists at its next plenary meeting in June 2019.