Im p ro vin g Glo b a l AML/ CFT Co m p lia n ce : u p d a te o n -go in g
p ro ce s s
Par is 25 Febr uar y 2011 - As par t of it s ongoing r eview of com pliance w it h t he AML/ CFT st andar ds, t he
FATF has t o dat e ident ified t he follow ing j ur isdict ions w hich have st r at egic AML/ CFT deficiencies for w hich t hey have developed an act ion plan w it h t he FATF. While t he sit uat ions differ am ong each j ur isdict ion, each j ur isdict ion has pr ovided a w r it t en high- level polit ical com m it m ent t o addr ess t he ident ified deficiencies. The FATF w elcom es t hese com m it m ent s.
A lar ge num ber of j ur isdict ions have not yet been r eview ed by t he FATF. The FATF cont inues t o ident ify addit ional j ur isdict ions, on an ongoing basis, t hat pose a r isk in t he int er nat ional financial syst em . The FATF has addit ionally begun init ial r eview s of a num ber of ot her j ur isdict ions as par t of t his pr ocess and w ill pr esent it s findings lat er t his year .
The FATF and t he FSRBs w ill cont inue t o w or k w it h t he j ur isdict ions not ed below and t o r epor t on t he pr ogr ess m ade in addr essing t he ident ified deficiencies. The FATF calls on t hese j ur isdict ions t o com plet e t he im plem ent at ion of act ion plans expedit iously and w it hin t he pr oposed t im efr am es. The FATF w ill closely m onit or t he im plem ent at ion of t hese act ion plans and encour ages it s m em ber s t o consider t he infor m at ion pr esent ed below .
An tigu a a n d Ba rbu d a
I n Febr uar y 2010, Ant igua and Bar buda m ade a high- level polit ical com m it m ent t o w or k w it h t he FATF and CFATF t o addr ess it s st r at egic AML/ CFT deficiencies. How ever , t he FATF has det er m ined t hat cer t ain st r at egic AML/ CFT deficiencies r em ain. Ant igua and Bar buda should cont inue t o w or k on im plem ent ing it s act ion plan t o addr ess t hese deficiencies, including by: ( 1) im plem ent ing an
adequat e legal fr am ew or k for ident ifying and fr eezing t er r or ist asset s ( Special Recom m endat ion I I I ) ; and ( 2) cont inuing t o im pr ove t he over all super visor y fr am ew or k ( Recom m endat ion 23) . The FATF encour ages Ant igua and Bar buda t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
Ba n gla d e s h
I n Oct ober 2010, Bangladesh m ade a high- level polit ical com m it m ent t o w or k w it h t he FATF and APG t o addr ess it s st r at egic AML/ CFT deficiencies. Since Oct ober , Bangladesh has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e, including by am ending t he Ext r adit ion Act t o include ML/ FT offences. How ever , t he FATF has det er m ined t hat cer t ain st r at egic AML/ CFT deficiencies r em ain. Bangladesh should cont inue t o w or k on im plem ent ing it s act ion plan t o addr ess t hese deficiencies, including by: ( 1) adequat ely cr im inalising m oney launder ing and t er r or ist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2) est ablishing and im plem ent ing adequat e pr ocedur es t o ident ify and fr eeze t er r or ist asset s ( Special Recom m endat ion I I I ) ; ( 3) im plem ent ing adequat e pr ocedur es for t he confiscat ion of funds r elat ed t o m oney launder ing ( Recom m endat ion 3) ; ( 4) ensur ing a fully oper at ional and effect ively funct ioning Financial I nt elligence Unit ( Recom m endat ion 26) ; ( 5) im pr oving suspicious t r ansact ion r epor t ing r equir em ent s ( Recom m endat ion 13 and Special
Recom m endat ion I V) ; and ( 6) im pr oving int er nat ional cooper at ion ( Recom m endat ions 36 and 39 and Special Recom m endat ion V) . The FATF encour ages Bangladesh t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
Ecu a d o r
I n June 2010, Ecuador m ade a high- level polit ical com m it m ent t o w or k w it h t he FATF and GAFI SUD t o addr ess it s st r at egic AML/ CFT deficiencies. Since Oct ober , Ecuador has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e, including by enact ing AML and CFT am endm ent s. How ever , t he FATF has
( Recom m endat ion 3) ; and ( 4) r einfor cing and im pr oving coor dinat ion of financial sect or super vision ( Recom m endat ion 23) . The FATF encour ages Ecuador t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
Gh a n a
I n Oct ober 2010, Ghana m ade a high- level polit ical com m it m ent t o w or k w it h t he FATF and GI ABA t o addr ess it s st r at egic AML/ CFT deficiencies. How ever , t he FATF has det er m ined t hat st r at egic AML/ CFT deficiencies r em ain. Ghana should cont inue t o w or k on im plem ent ing it s act ion plan t o addr ess t hese deficiencies, including by: ( 1) adequat ely cr im inalising m oney launder ing and t er r or ist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2) est ablishing and im plem ent ing adequat e m easur es for t he confiscat ion of funds r elat ed t o m oney launder ing ( Recom m endat ion 3) ; ( 3) est ablishing effect ive CDD m easur es ( Recom m endat ion 5) ; ( 4) est ablishing a fully oper at ional and effect ively funct ioning Financial I nt elligence Unit ( Recom m endat ion 26) ; and ( 5) est ablishing and im plem ent ing adequat e pr ocedur es t o ident ify and fr eeze t er r or ist asset s ( Special Recom m endat ion I I I ) . The FATF encour ages Ghana t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
Gre e ce
I n Febr uar y 2010, Gr eece m ade a high- level polit ical com m it m ent t o w or k w it h t he FATF t o addr ess it s st r at egic AML/ CFT deficiencies. Since t hat t im e, Gr eece has dem onst r at ed pr ogr ess in im pr oving it s AML/ CFT r egim e, including by adopt ing legislat ion t hat aim s t o addr ess issues r elat ing t o
cr im inalisat ion of t er r or ist financing, fr eezing of t er r or ist asset s under UNSCR 1373, and t he independence and oper at ion of t he FI U. The FATF w ill conduct an on- sit e visit t o confir m t hat t he pr ocess of im plem ent ing t he r equir ed r efor m s and act ions is under w ay t o addr ess deficiencies pr eviously ident ified by t he FATF.
H o n d u ra s
I n Oct ober 2010, Hondur as m ade a high- level polit ical com m it m ent t o w or k w it h t he FATF and CFATF t o addr ess it s st r at egic AML/ CFT deficiencies. Since Oct ober , Hondur as has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e, including by enact ing legislat ion t hat cr im inalises t er r or ist financing. How ever , t he FATF has det er m ined t hat st r at egic AML/ CFT deficiencies r em ain. Hondur as should cont inue t o w or k on im plem ent ing it s act ion plan t o addr ess t hese deficiencies, including by: ( 1) est ablishing and im plem ent ing adequat e pr ocedur es t o ident ify and fr eeze t er r or ist asset s ( Special Recom m endat ion I I I ) ; ( 2) ensur ing a fully oper at ional and effect ively funct ioning Financial I nt elligence Unit ( Recom m endat ion 26) ; and ( 3) im pr oving and br oadening CDD m easur es ( Recom m endat ion 5) . The FATF encour ages Hondur as t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
In d o n e s ia
I n Febr uar y 2010, I ndonesia m ade a high- level polit ical com m it m ent t o w or k w it h t he FATF and APG t o addr ess it s st r at egic AML/ CFT deficiencies. How ever , t he FATF has det er m ined t hat cer t ain
st r at egic AML/ CFT deficiencies r em ain. I ndonesia should cont inue t o w or k on im plem ent ing it s act ion plan t o addr ess t hese deficiencies, including by: ( 1) adequat ely cr im inalising t er r or ist financing ( Special Recom m endat ion I I ) ; ( 2) est ablishing and im plem ent ing adequat e pr ocedur es t o ident ify and fr eeze t er r or ist asset s ( Special Recom m endat ion I I I ) ; and ( 3) am ending and im plem ent ing law s or ot her inst r um ent s t o fully im plem ent ing t he 1999 I nt er nat ional Convent ion for t he Suppr ession of Financing of Ter r or ism ( Special Recom m endat ion I ) . The FATF encour ages I ndonesia t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
Mo ro cco
I n Febr uar y 2010, Mor occo m ade a high- level polit ical com m it m ent t o w or k w it h t he FATF and MENAFATF t o addr ess it s st r at egic AML/ CFT deficiencies. Since t hat t im e, Mor occo has dem onst r at ed pr ogr ess in im pr oving it s AML/ CFT r egim e, including by adopt ing am endm ent s t o ext end t he scope of t he m oney launder ing and t er r or ist financing offences; t o br oaden cust om er due diligence
r equir em ent s and t aking st eps t o oper at ionalise t he FI U. Once t he FATF assesses t his r ecent
legislat ion and ensur es t hat t hese m easur es addr ess t he ident ified deficiencies, it w ill or ganise an on-sit e vion-sit t o confir m t hat t he pr ocess of im plem ent ing t he r equir ed r efor m s and act ions is under w ay t o addr ess deficiencies pr eviously ident ified by t he FATF.
P a kis ta n
adequat e cr im inalisat ion of m oney launder ing and t er r or ist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2) dem onst r at ing adequat e pr ocedur es t o ident ify, fr eeze and confiscat e t er r or ist asset s ( Special Recom m endat ion I I I ) ; ( 3) ensur ing a fully oper at ional and effect ively
funct ioning Financial I nt elligence Unit ( Recom m endat ion 26) ; ( 4) dem onst r at ing effect ive r egulat ion of m oney ser vice pr ovider s, including an appr opr iat e sanct ions r egim e, and incr easing t he r ange of ML/ FT pr event ive m easur es for t hese ser vices ( Special Recom m endat ion VI ) ; and ( 5) im pr oving and im plem ent ing effect ive cont r ols for cr oss- bor der cash t r ansact ions ( Special Recom m endat ion I X) . The FATF encour ages Pakist an t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of
im plem ent ing it s act ion plan.
P a ra gu a y
I n Febr uar y 2010, Par aguay m ade a high- level polit ical com m it m ent t o w or k w it h t he FATF and GAFI SUD t o addr ess it s st r at egic AML/ CFT deficiencies. Since Oct ober , Par aguay has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e, including issuing r egulat ions pr ohibit ing anonym ous account s. How ever , t he FATF has det er m ined t hat cer t ain st r at egic AML/ CFT deficiencies r em ain. Par aguay should cont inue t o w or k on im plem ent ing it s act ion plan t o addr ess t hese deficiencies, including by: ( 1) est ablishing and im plem ent ing adequat e pr ocedur es t o ident ify, fr eeze and confiscat e t er r or ist asset s ( Special Recom m endat ion I I I ) ; and ( 2) effect ively im plem ent ing cont r ols for cr oss- bor der cash t r ansact ions ( Special Recom m endat ion I X) . The FATF encour ages Par aguay t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
P h ilip p in e s
I n Oct ober 2010, t he Philippines m ade a high- level polit ical com m it m ent t o w or k w it h t he FATF and APG t o addr ess it s st r at egic AML/ CFT deficiencies. Since Oct ober , t he Philippines has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e, including by issuing new AML r egulat ions. How ever , t he FATF has det er m ined t hat cer t ain st r at egic AML/ CFT deficiencies r em ain. The Philippines should cont inue t o w or k on im plem ent ing it s act ion plan t o addr ess t hese deficiencies, including by: ( 1) adequat ely cr im inalising m oney launder ing and t er r or ist financing ( Recom m endat ion 1 and Special
Recom m endat ion I I ) ; ( 2) im plem ent ing adequat e pr ocedur es t o ident ify and fr eeze t er r or ist asset s and confiscat e funds r elat ed t o m oney launder ing ( Special Recom m endat ion I I I and Recom m endat ion 3) ; ( 3) enhancing financial t r anspar ency ( Recom m endat ion 4) ; ( 4) ensur ing capacit y and financial r esour ces for com pet ent aut hor it ies ( Recom m endat ion 30) ; and ( 5) est ablishing effect ive CDD m easur es ( Recom m endat ion 5) . The FATF encour ages t he Philippines t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
S ã o To m é a n d Prín cip e
I n Oct ober 2010, São Tom é and Pr íncipe m ade a high- level polit ical com m it m ent t o w or k w it h t he FATF and GI ABA t o addr ess it s st r at egic AML/ CFT deficiencies. How ever , t he FATF has det er m ined t hat cer t ain st r at egic AML/ CFT deficiencies r em ain. São Tom é and Pr íncipe should cont inue t o w or k on im plem ent ing it s act ion plan t o addr ess t hese deficiencies, including by: ( 1) adequat ely cr im inalising m oney launder ing and t er r or ist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2) est ablishing a fully oper at ional and effect ively funct ioning Financial I nt elligence Unit ( Recom m endat ion 26) ; ( 3) ensur ing t hat financial inst it ut ions and DNFBPs ar e subj ect t o adequat e AML/ CFT r egulat ion and super vision, and t hat a com pet ent aut hor it y or com pet ent aut hor it ies have been designat ed t o ensur e com pliance w it h AML/ CFT r equir em ent s ( Recom m endat ions 23, 24 and 29) ; ( 4) im plem ent ing effect ive, pr opor t ionat e and dissuasive sanct ions in or der t o deal w it h nat ur al or legal per sons t hat do not com ply w it h t he nat ional AML/ CFT r equir em ent s ( Recom m endat ion 17) ; and ( 5) t aking t he necessar y act ion t o gain m em ber ship of GI ABA. The FATF encour ages São Tom é and Pr íncipe t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
S u d a n
I n Febr uar y 2010, Sudan m ade a high- level polit ical com m it m ent t o w or k w it h t he FATF and MENAFATF t o addr ess it s st r at egic AML/ CFT deficiencies. Since Oct ober , Sudan has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e, including by issuing FI U r egulat ions and cir cular s t o financial inst it ut ions. How ever , t he FATF has det er m ined t hat cer t ain st r at egic AML/ CFT deficiencies r em ain. Sudan should cont inue t o w or k on im plem ent ing it s act ion plan t o addr ess t hese deficiencies, including by: ( 1) im plem ent ing adequat e pr ocedur es for ident ifying and fr eezing t er r or ist asset s ( Special Recom m endat ion I I I ) ; ( 2) ensur ing a fully oper at ional and effect ively funct ioning Financial I nt elligence Unit ( Recom m endat ion 26) ; ( 3) ensur ing financial inst it ut ions ar e aw ar e of and com ply w it h t heir obligat ions t o file suspicious t r ansact ion r epor t s in r elat ion t o ML and FT ( Recom m endat ion 13 and Special Recom m endat ion I V) ; and ( 4) im plem ent ing a super visor y pr ogr am m e for t he
Ta n za n ia
I n Oct ober 2010, Tanzania m ade a high- level polit ical com m it m ent t o w or k w it h t he FATF and ESAAMLG t o addr ess it s st r at egic AML/ CFT deficiencies. How ever , t he FATF has det er m ined t hat cer t ain st r at egic AML/ CFT deficiencies r em ain. Tanzania should cont inue t o w or k on im plem ent ing it s act ion plan t o addr ess t hese deficiencies, including by: ( 1) adequat ely cr im inalising m oney launder ing and t er r or ist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2) est ablishing and im plem ent ing adequat e pr ocedur es t o ident ify and fr eeze t er r or ist asset s as w ell as im plem ent ing t he UNSCR 1267 and 1373 t hr ough law , r egulat ions or ot her enfor ceable m eans ( Special Recom m endat ion I I I ) ; ( 3) est ablishing effect ive CDD m easur es ( Recom m endat ion 5) ; ( 4) est ablishing adequat e r ecor d -keeping r equir em ent s ( Recom m endat ion 10) ; ( 5) est ablishing a fully oper at ional and effect ively funct ioning nat ional Financial I nt elligence Unit ( Recom m endat ion 26) ; and ( 6) designat ing com pet ent aut hor it ies t o ensur e com pliance w it h AML/ CFT r equir em ent s ( Recom m endat ion 23) . The FATF encour ages Tanzania t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
Th a ila n d
I n Febr uar y 2010, Thailand m ade a high- level polit ical com m it m ent t o w or k w it h t he FATF and APG t o addr ess it s st r at egic AML/ CFT deficiencies. Since Oct ober , Thailand has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e, including by appr oving a nat ional AML/ CFT st r at egy. How ever , t he FATF has det er m ined t hat cer t ain st r at egic AML/ CFT deficiencies r em ain. Thailand should cont inue t o w or k on im plem ent ing it s act ion plan t o addr ess t hese deficiencies, including by: ( 1) adequat ely cr im inalising t er r or ist financing ( Special Recom m endat ion I I ) ; ( 2) est ablishing and im plem ent ing adequat e pr ocedur es t o ident ify and fr eeze t er r or ist asset s ( Special Recom m endat ion I I I ) ; and ( 3) fur t her st r engt hening AML/ CFT super vision ( Recom m endat ion 23) . The FATF encour ages Thailand t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
Tu rkm e n is ta n
I n June 2010, Tur km enist an m ade a high- level polit ical com m it m ent t o w or k w it h t he FATF and EAG t o addr ess it s st r at egic AML/ CFT deficiencies. Since Oct ober , Tur km enist an has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e, including by under going an on- sit e for it s m ut ual evaluat ion. How ever , t he FATF has det er m ined t hat cer t ain st r at egic AML/ CFT deficiencies r em ain. Tur km enist an should cont inue t o w or k on im plem ent ing it s act ion plan t o addr ess t hese deficiencies, including by: ( 1) addr essing t he r em aining issues w it h t he cr im inalisat ion of m oney launder ing and t er r or ist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2) im plem ent ing adequat e pr ocedur es t o ident ify and fr eeze t er r or ist asset s w it hout delay ( Special Recom m endat ion I I I ) ; ( 3) ensur ing a fully oper at ional and effect ively funct ioning FI U ( Recom m endat ion 26) ; ( 4) developing collabor at ion bet w een t he FI U and dom est ic count er par t s, including super visor y aut hor it ies; and ( 5) st r engt hening int er nat ional cooper at ion. The FATF encour ages Tur km enist an t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
U kra in e
I n Febr uar y 2010, Ukr aine m ade a high- level polit ical com m it m ent t o w or k w it h t he FATF and MONEYVAL t o addr ess it s st r at egic AML/ CFT deficiencies. How ever , t he FATF has det er m ined t hat cer t ain st r at egic AML/ CFT deficiencies r em ain. Ukr aine should cont inue t o w or k on im plem ent ing it s act ion plan t o addr ess t hese deficiencies, including by: ( 1) addr essing a few r em aining issues r egar ding cr im inalisat ion of m oney launder ing ( Recom m endat ion 1) ; and ( 2) im pr oving and im plem ent ing an adequat e legal fr am ew or k for ident ifying and fr eezing t er r or ist asset s ( Special Recom m endat ion I I I ) . The FATF encour ages Ukr aine t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
Ve n e zu e la
I n Oct ober 2010, Venezuela m ade a high- level polit ical com m it m ent t o w or k w it h t he FATF and CFATF t o addr ess it s st r at egic AML/ CFT deficiencies. Since Oct ober , Venezuela has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e, including by issuing r egulat ions for t he secur it ies sect or . How ever , t he FATF has det er m ined t hat cer t ain st r at egic deficiencies r em ain. Venezuela should cont inue t o w or k w it h t he FATF and CFATF on im plem ent ing it s act ion plan t o addr ess t hese deficiencies, including by: ( 1) adequat ely cr im inalising t er r or ist financing ( Special Recom m endat ion I I ) ; ( 2) est ablishing and im plem ent ing adequat e pr ocedur es t o ident ify and fr eeze t er r or ist asset s ( Special Recom m endat ions I and I I I ) ; ( 3) ensur ing a fully oper at ional and effect ively funct ioning Financial I nt elligence Unit
Vie tn a m
I n Oct ober 2010, Viet nam m ade a high- level polit ical com m it m ent t o w or k w it h t he FATF and APG t o addr ess it s st r at egic AML/ CFT deficiencies. How ever , t he FATF has det er m ined t hat cer t ain st r at egic AML/ CFT deficiencies r em ain. Viet nam should cont inue t o w or k w it h t he FATF and APG on
im plem ent ing it s act ion plan t o addr ess t hese deficiencies, including by: ( 1) adequat ely cr im inalising m oney launder ing and t er r or ist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2) est ablishing and im plem ent ing adequat e pr ocedur es t o ident ify and fr eeze t er r or ist asset s ( Special Recom m endat ion I I I ) ; ( 3) im pr oving t he over all super visor y fr am ew or k ( Recom m endat ion 23) ; ( 4) im pr oving and br oadening cust om er due diligence m easur es and r epor t ing r equir em ent s
( Recom m endat ion 5, 13, and Special Recom m endat ion I V) ; and ( 5) st r engt hening int er nat ional cooper at ion ( Recom m endat ions 36, 40) . The FATF encour ages Viet nam t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
Ye m e n
I n Febr uar y 2010, Yem en m ade a high- level polit ical com m it m ent t o w or k w it h t he FATF and MENAFATF t o addr ess it s st r at egic AML/ CFT deficiencies. Since Oct ober , Yem en has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e, including by issuing execut ive r egulat ions for it s AML/ CFT law , including on cust om er due diligence and suspicious t r ansact ion r epor t ing. How ever , t he FATF has det er m ined t hat cer t ain st r at egic deficiencies r em ain. Yem en should cont inue t o w or k on
im plem ent ing it s act ion plan t o addr ess t hese deficiencies, including by: ( 1) est ablishing and im plem ent ing adequat e pr ocedur es t o ident ify and fr eeze t er r or ist asset s ( Special Recom m endat ion I I I ) ; ( 2) issuing subst ant ive guidance/ inst r uct ions t o r epor t ing inst it ut ions w it h r espect t o t heir ML/ FT obligat ions ( Recom m endat ion 25) ; ( 3) developing t he m onit or ing and super visor y capacit y of t he financial sect or super visor y aut hor it ies and t he FI U, t o ensur e com pliance by financial inst it ut ions w it h t heir STR obligat ions, especially in r elat ion t o FT ( Recom m endat ion 23) ; and ( 4) ensur ing a fully oper at ional and effect ively funct ioning Financial I nt elligence Unit ( Recom m endat ion 26) . The FATF encour ages Yem en t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
J u ris d ictio n s n o t m a kin g s u fficie n t p ro gre s s
The FATF is not yet sat isfied t hat t he follow ing j ur isdict ions have m ade sufficient pr ogr ess on t heir act ion plan agr eed upon w it h t he FATF. The m ost significant act ion plan it em s and/ or t he m aj or it y of t heir act ion plan it em s have not been addr essed. I f t hese j ur isdict ions do not t ake sufficient act ion t o im plem ent significant com ponent s of t heir act ion plan by June 2011, t hen t he FATF w ill ident ify t hese j ur isdict ions as being out of com pliance w it h t heir agr eed act ion plans and w ill t ake t he addit ional st ep of calling upon it s m em ber s t o consider t he r isks ar ising fr om t he deficiencies associat ed w it h t he j ur isdict ion.
An go la
Despit e Angola’s high- level polit ical com m it m ent t o w or k w it h t he FATF t o addr ess it s st r at egic AML/ CFT deficiencies, t he FATF is not yet sat isfied t hat Angola has m ade sufficient pr ogr ess in im plem ent ing it s act ion plan, and cer t ain st r at egic deficiencies r em ain. Angola should w or k on addr essing t hese deficiencies, including by: ( 1) adequat ely cr im inalising m oney launder ing and t er r or ist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2) est ablishing a fully oper at ional and effect ively funct ioning Financial I nt elligence Unit ( Recom m endat ion 26) ; and ( 3) est ablishing and im plem ent ing an adequat e legal fr am ew or k for ident ifying, t r acing and fr eezing t er r or ist asset s ( Special Recom m endat ion I I I ) . The FATF encour ages Angola t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
Bo livia
Despit e Bolivia’s high- level polit ical com m it m ent t o w or k w it h t he FATF and GAFI SUD t o addr ess it s st r at egic AML/ CFT deficiencies, t he FATF is not yet sat isfied t hat Bolivia has m ade sufficient pr ogr ess in im plem ent ing it s act ion plan, and cer t ain st r at egic AML/ CFT deficiencies r em ain. Bolivia should w or k on addr essing t hese deficiencies including by: ( 1) ensur ing adequat e cr im inalisat ion of m oney launder ing ( Recom m endat ion 1) ; ( 2) adequat ely cr im inalising t er r or ist financing ( Special
Recom m endat ion I I ) ; ( 3) est ablishing and im plem ent ing an adequat e legal fr am ew or k for ident ifying and fr eezing t er r or ist asset s ( Special Recom m endat ion I I I ) ; and ( 4) est ablishing a fully oper at ional and effect ive Financial I nt elligence Unit ( Recom m endat ion 26) . The FATF encour ages Bolivia t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
Eth io p ia
im plem ent ing an adequat e legal fr am ew or k and pr ocedur es t o ident ify and fr eeze t er r or ist asset s ( Special Recom m endat ion I I I ) ; ( 3) ensur ing a fully oper at ional and effect ively funct ioning Financial I nt elligence Unit ( Recom m endat ion 26) ; ( 4) r aising aw ar eness of AML/ CFT issues w it hin t he law enfor cem ent com m unit y ( Recom m endat ion 27) ; and ( 5) im plem ent ing effect ive, pr opor t ionat e and dissuasive sanct ions in or der t o deal w it h nat ur al or legal per sons t hat do not com ply w it h t he nat ional AML/ CFT r equir em ent s ( Recom m endat ion 17) . The FATF encour ages Et hiopia t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
Ke n ya
Despit e Kenya’s high- level polit ical com m it m ent t o w or k w it h t he FATF and ESAAMLG t o addr ess it s st r at egic AML/ CFT deficiencies, t he FATF is not yet sat isfied t hat Kenya has m ade sufficient pr ogr ess in im plem ent ing it s act ion plan, and cer t ain st r at egic AML/ CFT deficiencies r em ain. Kenya should w or k on addr essing t hese deficiencies, including by: ( 1) adequat ely cr im inalising t er r or ist financing ( Special Recom m endat ion I I ) ; ( 2) ensur ing a fully oper at ional and effect ively funct ioning Financial I nt elligence Unit ( Recom m endat ion 26) ; ( 3) est ablishing and im plem ent ing an adequat e legal fr am ew or k for ident ifying and fr eezing t er r or ist asset s ( Special Recom m endat ion I I I ) ; ( 4) r aising aw ar eness of AML/ CFT issues w it hin t he law enfor cem ent com m unit y ( Recom m endat ion 27) ; and ( 5) im plem ent ing effect ive, pr opor t ionat e and dissuasive sanct ions in or der t o deal w it h nat ur al or legal per sons t hat do not com ply w it h t he nat ional AML/ CFT r equir em ent s ( Recom m endat ion 17) . The FATF encour ages Kenya t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of
im plem ent ing it s act ion plan.
Mya n m a r
Despit e Myanm ar ’s high- level polit ical com m it m ent t o w or k w it h t he FATF and APG t o addr ess it s st r at egic AML/ CFT deficiencies, t he FATF is not yet sat isfied t hat Myanm ar has m ade sufficient pr ogr ess in im plem ent ing it s act ion plan, and cer t ain st r at egic AML/ CFT deficiencies r em ain. Myanm ar should w or k on addr essing t hese deficiencies, including by: ( 1) adequat ely cr im inalising m oney launder ing and t er r or ist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2) est ablishing and im plem ent ing adequat e pr ocedur es t o ident ify and fr eeze t er r or ist asset s ( Special Recom m endat ion I I I ) ; ( 3) st r engt hening t he ext r adit ion fr am ew or k in r elat ion t o t er r or ist financing ( Recom m endat ion 35 and Special Recom m endat ion I ) ; ( 4) ensur ing a fully oper at ional and effect ively funct ioning Financial I nt elligence Unit ( Recom m endat ion 26) ; ( 5) enhancing financial t r anspar ency ( Recom m endat ion 4) ; and ( 6) st r engt hening cust om er due diligence m easur es ( Recom m endat ions 5) . The FATF encour ages Myanm ar t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
N e p a l
Despit e Nepal’s high- level polit ical com m it m ent t o w or k w it h t he FATF and APG t o addr ess it s st r at egic AML/ CFT deficiencies, t he FATF is not yet sat isfied t hat Nepal has m ade sufficient pr ogr ess in im plem ent ing it s act ion plan, and cer t ain st r at egic AML/ CFT deficiencies r em ain. Nepal should w or k on addr essing t hese deficiencies, including by: ( 1) adequat ely cr im inalising m oney launder ing and t er r or ist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2) est ablishing and im plem ent ing adequat e pr ocedur es t o ident ify and fr eeze t er r or ist asset s ( Special Recom m endat ion I I I ) ; ( 3) im plem ent ing adequat e pr ocedur es for t he confiscat ion of funds r elat ed t o m oney launder ing ( Recom m endat ion 3) ; and ( 4) enact ing and im plem ent ing appr opr iat e m ut ual legal assist ance
legislat ion ( Recom m endat ion 36) . The FATF encour ages Nepal t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
N ige ria
Despit e Niger ia’s high- level polit ical com m it m ent t o w or k w it h t he FATF and GI ABA t o addr ess it s st r at egic AML/ CFT deficiencies, t he FATF is not yet sat isfied t hat Niger ia has m ade sufficient pr ogr ess in im plem ent ing it s act ion plan, and cer t ain st r at egic AML/ CFT deficiencies r em ain. I t is im por t ant t o not e t hat Niger ia passed AML and CFT legislat ion t hat t he FATF has not yet exam ined due t o t he ver y r ecent nat ur e of t his act ion. The FATF w ill assess t his legislat ion and, in any case, Niger ia should w or k on addr essing it s deficiencies, including by: ( 1) adequat ely cr im inalising m oney launder ing and t er r or ist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2) im plem ent ing adequat e pr ocedur es t o ident ify and fr eeze t er r or ist asset s ( Special Recom m endat ion I I I ) ; ( 3) ensur ing t hat r elevant law s or r egulat ions addr ess deficiencies in cust om er due diligence r equir em ent s and t hat t hey apply t o all financial inst it ut ions ( Recom m endat ion 5) ; and ( 4) dem onst r at ing t hat AML/ CFT super vision is under t aken effect ively acr oss t he financial sect or ( Recom m endat ion 23) . The FATF encour ages Niger ia t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
S ri La n ka
S yria
Despit e Syr ia’s high- level polit ical com m it m ent t o w or k w it h t he FATF and MENAFATF t o addr ess it s st r at egic AML/ CFT deficiencies, t he FATF is not yet sat isfied t hat Syr ia has m ade sufficient pr ogr ess in im plem ent ing it s act ion plan, and cer t ain st r at egic AML/ CFT deficiencies r em ain. I t is im por t ant t o not e t hat Syr ia issued an AML/ CFT Decr ee t hat t he FATF has not yet assessed due t o t he ver y r ecent nat ur e of t his act ion. The FATF w ill assess t his decr ee and, in any case, Syr ia should cont inue t o w or k on addr essing it s deficiencies, including by: ( 1) adopt ing adequat e m easur es t o im plem ent and enfor ce t he 1999 I nt er nat ional Convent ion for t he Suppr ession of Financing of Ter r or ism ( Special Recom m endat ion I ) ; ( 2) ensur ing adequat e cr im inalisat ion of t er r or ist financing ( Special
Recom m endat ion I I ) ; ( 3) im plem ent ing adequat e pr ocedur es for ident ifying and fr eezing t er r or ist asset s ( Special Recom m endat ion I I I ) ; ( 4) ensur ing financial inst it ut ions ar e aw ar e of and com ply w it h t heir obligat ions t o file suspicious t r ansact ion r epor t s in r elat ion t o ML and FT ( Recom m endat ion 13 and Special Recom m endat ion I V) ; and ( 5) adopt ing appr opr iat e law s and pr ocedur es t o pr ovide m ut ual legal assist ance ( Recom m endat ions 36 - 38, Special Recom m endat ion V) . The FATF
encour ages Syr ia t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
Trin id a d a n d To ba go
Despit e Tr inidad and Tobago’s high- level polit ical com m it m ent t o w or k w it h t he FATF and CFATF t o addr ess it s st r at egic AML/ CFT deficiencies, t he FATF is not yet sat isfied t hat Tr inidad and Tobago has m ade sufficient pr ogr ess in im plem ent ing it s act ion plan, and cer t ain st r at egic AML/ CFT deficiencies r em ain. I t is im por t ant t o not e t hat Tr inidad and Tobago enact ed CFT Regulat ions and FI U
Regulat ions t hat t he FATF has not yet exam ined due t o t he ver y r ecent nat ur e of t his act ion. The FATF w ill assess t hese r egulat ions and, in any case, Tr inidad and Tobago should cont inue t o w or k on addr essing it s deficiencies, including by: ( 1) im plem ent ing adequat e pr ocedur es t o ident ify and fr eeze t er r or ist asset s w it hout delay ( Special Recom m endat ion I I I ) ; ( 2) im plem ent ing adequat e pr ocedur es for t he confiscat ion of funds r elat ed t o m oney launder ing ( Recom m endat ion 3) ; and ( 3) est ablishing a fully oper at ional and effect ively funct ioning FI U, including super visor y pow er s ( Recom m endat ion 26) . The FATF encour ages Tr inidad and Tobago t o addr ess it s r em aining deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
