Paris,19February2016ͲAspartofitsonͲgoingreviewofcompliancewiththeAML/CFTstandards,theFATFhastodate idenƟĮedthefollowingjurisdicƟonswhichhavestrategicAML/CFTdeĮcienciesforwhichtheyhavedevelopedanacƟonplan withtheFATF.WhilethesituaƟonsdiīeramongeachjurisdicƟon,eachjurisdicƟonhasprovidedawriƩenhighͲlevelpoliƟcal commitmenttoaddresstheidenƟĮeddeĮciencies.TheFATFwelcomesthesecommitments.
AlargenumberofjurisdicƟonshavenotyetbeenreviewedbytheFATF.TheFATFconƟnuestoidenƟfyaddiƟonaljurisdicƟons, onanonͲgoingbasis,thatposearisktotheinternaƟonalĮnancialsystem.
TheFATFandtheFATFͲstyleregionalbodies(FSRBs)willconƟnuetoworkwiththejurisdicƟonsnotedbelowandtoreporton theprogressmadeinaddressingtheidenƟĮeddeĮciencies.TheFATFcallsonthesejurisdicƟonstocompletethe
implementaƟonofacƟonplansexpediƟouslyandwithintheproposedƟmeframes.TheFATFwillcloselymonitorthe implementaƟonoftheseacƟonplansandencouragesitsmemberstoconsidertheinformaƟonpresentedbelow.
JurisdicƟonswithstrategic deĮciencies
JurisdicƟonsnolongersubjecttotheFATF’sonͲgoingglobalAML/CFTcompliance process
Afghanistan
BosniaandHerzegovina
Guyana
Iraq
LaoPDR
Myanmar
PapuaNewGuinea Syria
Uganda
Vanuatu
Yemen
Algeria
Angola
Panama
Afghanistan
InJune2012,AfghanistanmadeahighͲlevelpoliƟcalcommitmenttoworkwiththeFATFandAPGtoaddressitsstrategic AML/CFTdeĮciencies.SinceOctober2015,AfghanistanhastakenstepstowardsimprovingitsAML/CFTregime,includingby issuingamendedcrossͲborderdeclaraƟonregulaƟonsforthephysicaltransportaƟonofcashandbearernegoƟable instruments.However,theFATFhasdeterminedthatcertainstrategicdeĮcienciesremain.AfghanistanshouldconƟnueto implementitsacƟonplan,includingby:(1)furtherimplemenƟngitslegalframeworkforidenƟfying,tracingandfreezing terroristassets;(2)implemenƟnganadequateAML/CFTsupervisoryandoversightprogrammeforallĮnancialsectors;and(3) implemenƟngeīecƟvecontrolsforcrossͲbordercashtransacƟons.TheFATFencouragesAfghanistantoaddressitsremaining deĮcienciesandconƟnuetheprocessofimplemenƟngitsacƟonplan.
Bosnia
and
Herzegovina
InJune2015,BosniaandHerzegovinamadeahighͲlevelpoliƟcalcommitmenttoworkwiththeFATFandMONEYVALto addressitsstrategicAML/CFTdeĮciencies.However,theFATFhasdeterminedthatcertainstrategicdeĮcienciesremain.Bosnia andHerzegovinashouldconƟnuetoimplementitsacƟonplantoaddressthesedeĮciencies,includingby:(1)harmonising criminalisaƟonofterroristĮnancinginallcriminalcodes;(2)establishingandimplemenƟnganadequatelegalframeworkfor freezingterroristassetsunderUNSCR1373;(3)implemenƟnganadequatesupervisoryframework;(4)implemenƟngadequate AML/CFTmeasuresforthenonͲproĮtsector;(5)establishingandimplemenƟngadequatecrossͲbordercurrencycontrols;(6) harmonisingcriminalisaƟonofmoneylaunderinginallcriminalcodes;and(7)ensuringadequateproceduresforthe conĮscaƟonofassets.TheFATFencouragesBosniaandHerzegovinatoaddressitsAML/CFTdeĮcienciesbyimplemenƟngits acƟonplan.
Guyana
InOctober2014,GuyanamadeahighͲlevelpoliƟcalcommitmenttoworkwiththeFATFandCFATFtoaddressitsstrategic AML/CFTdeĮciencies.SinceOctober2015,GuyanahastakenstepstowardsimprovingitsAML/CFTregime,includingby enacƟngfurtheramendmentstotheAML/CFTActandAML/CFTRegulaƟons,andissuingFIUguidelinesontargetedĮnancial sancƟons.However,theFATFhasdeterminedthatcertainstrategicdeĮcienciesremain.GuyanashouldconƟnuetoimplement itsacƟonplan,includingbyensuringandimplemenƟnganadequatelegalframeworkforidenƟfying,tracingandfreezing terroristassets.TheFATFencouragesGuyanatoaddressitsremainingdeĮcienciesandconƟnuetheprocessofimplemenƟng itsacƟonplan.
Iraq
InOctober2013,IraqmadeahighͲlevelpoliƟcalcommitmenttoworkwiththeFATFandMENAFATFtoaddressitsstrategic AML/CFTdeĮciencies.SinceOctober2015,IraqhastakenstepstowardsimprovingitsAML/CFTregime,includingbygazeƫng anewAML/CFTlaw,whichhasnowenteredintoforce.However,theFATFhasdeterminedthatcertainstrategicdeĮciencies remain.IraqshouldconƟnuetoimplementitsacƟonplantoaddressthesedeĮciencies,includingby:(1)addressingremaining issuesrelatedtoitscriminalisaƟonofmoneylaunderingandterroristĮnancing;(2)establishingandimplemenƟngan adequatelegalframeworkandappropriateproceduresforidenƟfyingandfreezingterroristassets;(3)ensuringthatall ĮnancialinsƟtuƟonsaresubjecttoadequatecustomerduediligencerequirements;(4)ensuringthatallĮnancialinsƟtuƟons aresubjecttoadequatesuspicioustransacƟonreporƟngrequirements;(5)ensuringafullyoperaƟonalandeīecƟvely funcƟoningĮnancialintelligenceunit;and(6)establishingandimplemenƟnganadequateAML/CFTsupervisoryandoversight programmeforallĮnancialsectors.TheFATFencouragesIraqtoaddressitsremainingAML/CFTdeĮcienciesandconƟnuethe processofimplemenƟngitsacƟonplan.
Lao
PDR
InJune2013,LaoPDRmadeahighͲlevelpoliƟcalcommitmenttoworkwiththeFATFandAPGtoaddressitsstrategicAML/CFT deĮciencies.SinceOctober2015,LaoPDRhastakenstepstowardsimprovingitsAML/CFTregime,includingbyissuingaPrime Minister’sOrderonthefreezingofterroristassets,STRguidanceforreporƟngenƟƟes,andregulaƟonsonprevenƟve measuresandĮnancialsectorsupervision.However,theFATFhasdeterminedthatcertainstrategicdeĮcienciesremain.Lao PDRshouldconƟnuetoworkonimplemenƟngitsacƟonplantoaddressthesedeĮciencies,includingby:(1)adequately criminalisingmoneylaunderingandterroristĮnancing;(2)establishingandimplemenƟngadequateproceduresforthe conĮscaƟonofassetsrelatedtomoneylaundering;(3)establishingandimplemenƟnganadequatelegalframeworkfor idenƟfying,tracingandfreezingterroristassets;(4)implemenƟnganadequateAML/CFTsupervisoryandoversightprogramme forallĮnancialsectors;and(5)implemenƟngeīecƟvecontrolsforcrossͲbordercurrencytransacƟons.TheFATFencourages LaoPDRtoaddressitsAML/CFTdeĮcienciesandconƟnuetheprocessofimplemenƟngitsacƟonplan.
Myanmar
SinceFebruary2010,whenMyanmarmadeahighͲlevelpoliƟcalcommitmenttoworkwiththeFATFandAPGtoaddressits strategicAML/CFTdeĮciencies,MyanmarhassubstanƟallyaddresseditsacƟonplanatatechnicallevel,includingby:(1) adequatelycriminalisingmoneylaunderingandterroristĮnancing;(2)establishingandimplemenƟngadequateproceduresto idenƟfyandfreezeterroristassets;(3)strengtheningtheextradiƟonframeworkinrelaƟontoterroristĮnancing;(4)ensuringa fullyoperaƟonalandeīecƟvelyfuncƟoningFinancialIntelligenceUnit;(5)enhancingĮnancialtransparency;and(6)
strengtheningcustomerduediligencemeasures.TheFATFwillconductanonͲsitevisittoconĮrmthattheprocessof implemenƟngtherequiredreformsandacƟonsisunderwaytoaddressdeĮcienciespreviouslyidenƟĮedbytheFATF.
Papua
New
Guinea
transacƟons.TheFATFwillconductanonͲsitevisittoconĮrmthattheprocessofimplemenƟngtherequiredreformsand acƟonsisunderwaytoaddressdeĮcienciespreviouslyidenƟĮedbytheFATF.
Syria
SinceFebruary2010,whenSyriamadeahighͲlevelpoliƟcalcommitmenttoworkwiththeFATFandMENAFATFtoaddressits strategicAML/CFTdeĮciencies,SyriahasmadeprogresstoimproveitsAML/CFTregime.InJune2014,theFATFdetermined thatSyriahadsubstanƟallyaddresseditsacƟonplanatatechnicallevel,includingbycriminalisingterroristĮnancingand establishingproceduresforfreezingterroristassets.WhiletheFATFdeterminedthatSyriahascompleteditsacƟonplanagreed uponwiththeFATF,duetothesecuritysituaƟon,theFATFhasbeenunabletoconductanonͲsitevisittoassesswhetherthe processofimplemenƟngtherequiredreformsandacƟonsisunderway.TheFATFwillconƟnuetomonitorthesituaƟon,and willconductanonͲsitevisitattheearliestpossibledate.
Uganda
InFebruary2014,UgandamadeahighͲlevelpoliƟcalcommitmenttoworkwiththeFATFandESAAMLGtoaddressitsstrategic AML/CFTdeĮciencies.SinceOctober2015,UgandahastakenstepstowardsimprovingitsAML/CFTregime,includingby amendingtheFinancialInsƟtuƟonsActtomaketheĮnancialintelligenceunitthecentralagencyforreceivingSTRs,issuingand implemenƟngregulaƟonsforthefreezingofterroristassets,issuingAMLregulaƟonsforimplementaƟonofAML
requirements,andissuingAML/CFTinspecƟonmanualsforĮnancialsectorsupervisors.However,theFATFhasdetermined thatstrategicdeĮcienciesremain.UgandashouldthereforeconƟnuetoworkonaddressingthefollowingdeĮciencies:(1) implemenƟnganadequatelegalframeworkandsetofproceduresforidenƟfyingandfreezingterroristassets;(2)ensuring thatallĮnancialinsƟtuƟonsaresubjecttoadequaterecordͲkeepingrequirements;(3)establishingafullyoperaƟonaland eīecƟvelyfuncƟoningĮnancialintelligenceunit;(4)ensuringanadequateandeīecƟveAML/CFTsupervisoryandoversight programmeforallĮnancialsectors;and(5)ensuringthatappropriatelawsandproceduresareinplacewithregardto internaƟonalcoͲoperaƟonfortheĮnancialintelligenceunitandsupervisoryauthoriƟes.TheFATFencouragesUgandato addressitsremainingAML/CFTdeĮciencies,includingadequatelycriminalisingterroristĮnancing,andconƟnuetheprocessof implemenƟngitsacƟonplan.
Vanuatu
InFebruary2016,VanuatumadeahighͲlevelpoliƟcalcommitmenttoworkwiththeFATFandAPGtoaddressitsstrategic AML/CFTdeĮciencies.VanuatuwillworkonimplemenƟngitsacƟonplantoaddressthesedeĮciencies,includingby:(1) adequatelycriminalisingmoneylaunderingandterroristĮnancing;(2)establishingandimplemenƟngadequateproceduresfor theconĮscaƟonofassetsrelatedtomoneylaundering;(3)establishingandimplemenƟnganadequatelegalframeworkfor idenƟfying,tracingandfreezingterroristassetsandotherUNSCRsancƟons;(4)ensuringafullyoperaƟonalandeīecƟvely funcƟoningĮnancialintelligenceunit;(5)strengtheningprevenƟvemeasures,includingforwiretransfers;(6)establishing transparencyfortheĮnancialsector,andforlegalpersonsandarrangements;(7)implemenƟnganadequateAML/CFT supervisoryandoversightprogrammeforthewholeĮnancialsectorandtrustandcompanyserviceproviders;and(8) establishingappropriatechannelsforinternaƟonalcoͲoperaƟonanddomesƟccoordinaƟonpoliciesandacƟonsonidenƟĮed risksandensuringeīecƟveimplementaƟon.
Yemen
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Algeria
TheFATFwelcomesAlgeria’ssigniĮcantprogressinimprovingitsAML/CFTregimeandnotesthatAlgeriahasestablishedthe legalandregulatoryframeworktomeetitscommitmentsinitsacƟonplanregardingthestrategicdeĮcienciesthattheFATF hadidenƟĮedinOctober2011.AlgeriaisthereforenolongersubjecttotheFATF’smonitoringprocessunderitsonͲgoing globalAML/CFTcomplianceprocess.AlgeriawillworkwithMENAFATFasitconƟnuestoaddressthefullrangeofAML/CFT issuesidenƟĮedinitsmutualevaluaƟonreport.
Angola
TheFATFwelcomesAngola’ssigniĮcantprogressinimprovingitsAML/CFTregimeandnotesthatAngolahasestablishedthe legalandregulatoryframeworktomeetitscommitmentsinitsacƟonplanregardingthestrategicdeĮcienciesthattheFATF hadidenƟĮedinJune2010andFebruary2013.AngolaisthereforenolongersubjecttotheFATF’smonitoringprocessunder itsonͲgoingglobalAML/CFTcomplianceprocess.AngolawillworkwithESAAMLGasitconƟnuestoaddressthefullrangeof AML/CFTissuesidenƟĮedinitsmutualevaluaƟonreport.
Panama
TheFATFwelcomesPanama’ssigniĮcantprogressinimprovingitsAML/CFTregimeandnotesthatPanamahasestablished thelegalandregulatoryframeworktomeetitscommitmentsinitsacƟonplanregardingthestrategicdeĮcienciesthatthe FATFhadidenƟĮedinJune2014.PanamaisthereforenolongersubjecttotheFATF’smonitoringprocessunderitsonͲgoing globalAML/CFTcomplianceprocess.PanamawillworkwithGAFILATasitconƟnuestoaddressthefullrangeofAML/CFT issuesidenƟĮedinitsmutualevaluaƟonreport.
