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, 22 Oct ober 2010 - As part of it s ongoing review of com pliance w it h t he AML/ CFT st andards, t he FATF has t o dat e ident ified t he follow ing j urisdict ions w hich have st rat 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 urisdict ion, each j urisdict ion has provided a w rit t en high- level polit ical com m it m ent t o address t he ident ified deficiencies. FATF w elcom es t hese com m it m ent s.
A large num ber of j urisdict ions have not yet been review ed by t he FATF. The FATF cont inues t o ident ify addit ional j urisdict ions, on an ongoing basis, t hat pose a risk in t he int ernat ional financial syst em . The new j urisdict ions ident ified in t his docum ent are: Bangladesh, Ghana, Honduras, Philippines, Tanzania, Venezuela, and Viet nam . The FATF has addit ionally begun init ial review s of a num ber of ot her j urisdict ions as part of t his process and w ill present it s findings next year.
The FATF and t he FSRBs w ill cont inue t o w ork w it h t he j urisdict ions not ed below and t o report on t he progress m ade in addressing t he ident ified deficiencies. The FATF calls on t hese j urisdict 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 proposed t im efram es. The FATF w ill closely m onit or t he im plem ent at ion of t hese act ion plans and encourages it s m em bers t o consider t he inform at ion present ed below .
A n g o la
I n June 2010, Angola m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF t o address it s st rat egic AML/ CFT deficiencies. Since June, Angola has t aken st eps t ow ards im proving it s AML/ CFT regim e, including by enact ing an AML/ CFT law and rat ifying t he UN Convent ion on Transnat ional Organised Crim e. How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain. Angola w ill w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) adequat ely crim inalising m oney laundering and t errorist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2) est ablishing a fully operat 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
fram ew ork for ident ifying, t racing and freezing t errorist asset s ( Special Recom m endat ion I I I ) ; and ( 4) rat ifying t he UN Convent ion for t he Suppression of t he Financing of Terrorism . The FATF encourages Angola t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
A n t ig u a a n d B a r b u d a
I n February 2010, Ant igua and Barbuda m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and CFATF t o address it s st rat egic AML/ CFT deficiencies. Since June, Ant igua and Barbuda has t aken st eps t ow ards im proving it s AML/ CFT regim e, including by passing t he Cooperat ive Societ ies Bill fram ew ork. How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain. Ant igua and Barbuda should cont inue t o w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) im plem ent ing an adequat e legal fram ew ork for ident ifying and freezing t errorist asset s ( Special Recom m endat ion I I I ) ; ( 2) cont inuing t o im prove t he overall supervisory fram ew ork ( Recom m endat ion 23) ; and ( 3) enhancing financial t ransparency ( Recom m endat ion 4) . The FATF encourages Ant igua and Barbuda t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
B a n g la d e s h
operat ional and effect ively funct ioning Financial I nt elligence Unit ( Recom m endat ion 26) ; ( 5) im proving suspicious t ransact ion report ing requirem ent s ( Recom m endat ion 13 and Special
Recom m endat ion I V) ; and ( 6) im proving int ernat ional cooperat ion ( Recom m endat ions 36 and 39 and Special Recom m endat ion V) . The FATF encourages Bangladesh t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
B o liv ia
I n February 2010, Bolivia m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and GAFI SUD t o address it s st rat egic AML/ CFT deficiencies. How ever, t he FATF has det erm ined t hat cert ain
st rat egic deficiencies rem ain. Bolivia should cont inue t o w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) ensuring adequat e crim inalisat ion of m oney laundering g ( Recom m endat ion 1) ; ( 2) adequat ely crim inalizing t errorist financing ( Special Recom m endat ion I I ) ; ( 3) est ablishing and im plem ent ing an adequat e legal fram ew ork for ident ifying and freezing t errorist asset s ( Special Recom m endat ion I I I ) ; and ( 4) est ablishing a fully operat ional and effect ive Financial I nt elligence Unit ( Recom m endat ion 26) . The FATF encourages Bolivia t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
Ec u a d o r
I n June 2010, Ecuador m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and GAFI SUD t o address it s st rat egic AML/ CFT deficiencies. Since June, Ecuador has t aken st eps t ow ards im proving it s AML/ CFT regim e, including by t abling a revised AML/ CFT law . How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain. Ecuador w ill w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) adequat ely crim inalising m oney laundering and t errorist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2) est ablishing and im plem ent ing adequat e procedures t o ident ify and freeze t errorist asset s ( Special Recom m endat ion I I I ) ; ( 3) im plem ent ing adequat e procedures for t he confiscat ion of funds relat ed t o m oney laundering ( Recom m endat ion 3) ; and ( 4) reinforcing and im proving coordinat ion of financial sect or supervision ( Recom m endat ion 23) . The FATF encourages Ecuador t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
Et h io p ia
I n June 2010, Et hiopia m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF t o address it s st rat egic AML/ CFT deficiencies. How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain. Et hiopia w ill w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) adequat ely crim inalising m oney laundering and t errorist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2) est ablishing and im plem ent ing an adequat e legal fram ew ork and procedures t o ident ify and freeze t errorist asset s ( Special Recom m endat ion I I I ) ; ( 3) ensuring a fully operat ional and effect ively funct ioning Financial I nt elligence Unit ( Recom m endat ion 26) ; ( 4) raising aw areness of AML/ CFT issues w it hin t he law enforcem ent com m unit y ( Recom m endat ion 27) ; and ( 5) im plem ent ing effect ive, proport ionat e and dissuasive sanct ions in order t o deal w it h nat ural or legal persons t hat do not com ply w it h t he nat ional AML/ CFT requirem ent s ( Recom m endat ion 17) . The FATF encourages Et hiopia t o address it s rem aining deficiencies and cont inue t he process 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 ork w it h t he FATF and GI ABA t o address it s st rat egic AML/ CFT deficiencies. Ghana has t aken st eps t ow ards im proving it s AML/ CFT regim e. How ever, t he FATF has det erm ined t hat st rat egic AML/ CFT deficiencies rem ain. Ghana w ill w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) adequat ely crim inalising m oney laundering and t errorist 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 easures for t he confiscat ion of funds relat ed t o m oney laundering ( Recom m endat ion 3) ; ( 3) est ablishing effect ive CDD m easures ( Recom m endat ion 5) ; ( 4) est ablishing a fully operat 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 procedures t o ident ify and freeze t errorist asset s ( Special Recom m endat ion I I I ) . The FATF encourages Ghana t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
Gr e e c e
freezing t errorist asset s under UNSCR 1373 ( Special Recom m endat ion I I I ) ; and ( 2) furt her enhancing t he effect iveness of t he FI U ( Recom m endat ion 26) . The FATF encourages Greece t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
H o n d u r a s
I n Oct ober 2010, Honduras m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and CFATF t o address it s st rat egic AML/ CFT deficiencies. Honduras has t aken st eps t ow ards im proving it s
AML/ CFT regim e. How ever, t he FATF has det erm ined t hat st rat egic AML/ CFT deficiencies rem ain. Honduras w ill w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) adequat ely crim inalising t errorist financing ( Special Recom m endat ion I I ) ; ( 2) est ablishing and im plem ent ing adequat e procedures t o ident ify and freeze t errorist asset s ( Special Recom m endat ion I I I ) ; ( 3) ensuring a fully operat ional and effect ively funct ioning Financial I nt elligence Unit
( Recom m endat ion 26) ; and ( 4) im proving and broadening CDD m easures ( Recom m endat ion 5) . The FATF encourages Honduras t o address it s rem aining deficiencies and cont inue t he process of
im plem ent ing it s act ion plan.
In d o n e s ia
I n February 2010, I ndonesia m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and t he APG t o address it s st rat egic AML/ CFT deficiencies. Since June, I ndonesia has t aken st eps t ow ards im proving it s AML/ CFT regim e, including by approving a new AML law on Oct ober 2010. How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain. I ndonesia should cont inue t o w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) adequat ely crim inalising t errorist financing ( Special Recom m endat ion I I ) ; ( 2) ensuring effect ive crim inalisat ion of m oney laundering ( Recom m endat ion 1) ; ( 2) est ablishing and im plem ent ing adequat e procedures t o ident ify and freeze t errorist 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 rum ent s t o fully im plem ent ing t he 1999 I nt ernat ional Convent ion for t he Suppression of Financing of Terrorism ( Special Recom m endat ion I ) . The FATF encourages I ndonesia t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
K e n y a
I n February 2010, Kenya m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and ESAAMLG t o address it s st rat egic AML/ CFT deficiencies. How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain. Kenya should cont inue t o w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) adequat ely crim inalising t errorist financing ( Special Recom m endat ion I I ) ; ( 2) ensuring a fully operat 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 fram ew ork for ident ifying and freezing t errorist asset s ( Special Recom m endat ion I I I ) ; ( 4) raising aw areness of AML/ CFT issues w it hin t he law enforcem ent com m unit y ( Recom m endat ion 27) ; and ( 5) im plem ent ing effect ive, proport ionat e and dissuasive sanct ions in order t o deal w it h nat ural or legal persons t hat do not com ply w it h t he nat ional AML/ CFT requirem ent s ( Recom m endat ion 17) . The FATF encourages Kenya t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
M o r o c c o
I n February 2010, Morocco m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and
MENAFATF t o address it s st rat egic AML/ CFT deficiencies. Since June, Morocco has t aken st eps t ow ards im proving it s AML/ CFT regim e, including by t aking init ial st eps t o m ake t he FI U m ore operat ional. How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain. Morocco should cont inue t o w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) am ending t he penal code t o ext end t he scope of t he ML and FT offences ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2) am ending relevant law s or regulat ions t o address deficiencies in cust om er due diligence requirem ent s ( Recom m endat ion 5) ; and ( 3) ensuring a fully operat ional and effect ively funct ioning Financial I nt elligence Unit ( Recom m endat ion 26) . The FATF encourages Morocco t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
M y a n m a r
I I I ) ; ( 3) st rengt hening t he ext radit ion fram ew ork in relat ion t o t errorist financing ( Recom m endat ion 35 and Special Recom m endat ion I ) ; ( 4) ensuring a fully operat ional and effect ively funct ioning Financial I nt elligence Unit ( Recom m endat ion 26) ; ( 5) enhancing financial t ransparency
( Recom m endat ion 4) ; and ( 6) st rengt hening cust om er due diligence m easures ( Recom m endat ions 5) . The FATF encourages Myanm ar t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
N e p a l
I n February 2010, Nepal m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and APG t o address it s st rat egic AML/ CFT deficiencies. Since June, Nepal has t aken st eps t ow ards im proving it s AML/ CFT regim e, including by t abling draft am endm ent s on m oney laundering and t errorist financing. How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain. Nepal should cont inue t o w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) adequat ely crim inalising m oney laundering and t errorist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2) est ablishing and im plem ent ing adequat e procedures t o ident ify and freeze t errorist asset s ( Special Recom m endat ion I I I ) ; ( 3) im plem ent ing adequat e procedures for t he confiscat ion of funds relat ed t o m oney laundering ( Recom m endat ion 3) ; and ( 4) enact ing and im plem ent ing appropriat e m ut ual legal assist ance legislat ion ( Recom m endat ion 36) . The FATF encourages Nepal t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
N ig e r ia
I n February 2010, Nigeria m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and GI ABA t o address it s st rat egic AML/ CFT deficiencies. How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain. Nigeria should cont inue t o w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) adequat ely crim inalising m oney laundering and t errorist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2) im plem ent ing adequat e procedures t o ident ify and freeze t errorist asset s ( Special Recom m endat ion I I I ) ; ( 3) ensuring t hat relevant law s or regulat ions address deficiencies in cust om er due diligence requirem 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 rat ing t hat AML/ CFT
supervision is undert aken effect ively across t he financial sect or ( Recom m endat ion 23) . The FATF encourages Nigeria t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
P a k is t a n
I n June 2010, Pakist an m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and APG t o address it s st rat egic AML/ CFT deficiencies. Since June, Pakist an has t aken st eps t ow ards im proving it s AML/ CFT regim e, including by broadening t he scope of ML predicat e offences. How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain. Pakist an w ill w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by ( 1) dem onst rat ing adequat e crim inalisat ion of m oney laundering and t errorist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2) dem onst rat ing adequat e procedures t o ident ify, freeze and confiscat e t errorist asset s ( Special
Recom m endat ion I I I ) ; ( 3) ensuring a fully operat ional and effect ively funct ioning Financial I nt elligence Unit ( Recom m endat ion 26) ; ( 4) dem onst rat ing effect ive regulat ion of m oney service providers,
including an appropriat e sanct ions regim e, and increasing t he range of ML/ FT prevent ive m easures for t hese services ( Special Recom m endat ion VI ) ; and ( 5) im proving and im plem ent ing effect ive cont rols for cross- border cash t ransact ions ( Special Recom m endat ion I X) . The FATF encourages Pakist an t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
P a r a g u a y
I n February 2010, Paraguay m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and GAFI SUD t o address it s st rat egic AML/ CFT deficiencies. Since June, Paraguay has t aken st eps t ow ards im proving it s AML/ CFT regim e, including by est ablishing som e fundam ent al CDD m easures. How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain. Paraguay should cont inue t o w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) est ablishing and im plem ent ing adequat e procedures t o ident ify, freeze and confiscat e t errorist asset s ( Special Recom m endat ion I I I ) ; ( 2) im proving financial t ransparency ( Recom m endat ion 4) ; ( 3) im proving and broadening cust om er due diligence m easures ( Recom m endat ion 5) ; and ( 4)
im plem ent ing effect ive cont rols for cross- border cash t ransact ions ( Special Recom m endat ion I X) . The FATF encourages Paraguay t o address it s rem aining deficiencies and cont inue t he process of
im plem ent ing it s act ion plan.
P h ilip p in e s
APG t o address it s st rat egic AML/ CFT deficiencies. The Philippines has t aken st eps t ow ards im proving it s AML/ CFT regim e. How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain. The Philippines w ill w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) adequat ely crim inalising m oney laundering and t errorist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2) im plem ent ing adequat e procedures t o ident ify and freeze t errorist asset s and confiscat e funds relat ed t o m oney laundering ( Special Recom m endat ion I I I and Recom m endat ion 3) ; ( 3) enhancing financial t ransparency ( Recom m endat ion 4) ; ( 4) ensuring capacit y and financial resources for com pet ent aut horit ies ( Recom m endat ion 30) ; and ( 5) est ablishing
effect ive CDD m easures ( Recom m endat ion 5) . The FATF encourages t he Philippines t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
S ã o To m é a n d P r ín c ip e
I n Oct ober 2010, São Tom é and Príncipe m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and GI ABA t o address it s st rat egic AML/ CFT deficiencies. How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain. São Tom é and Príncipe w ill w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) adequat ely crim inalising m oney
laundering and t errorist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2)
est ablishing a fully operat ional and effect ively funct ioning Financial I nt elligence Unit ( Recom m endat ion 26) ; ( 3) ensuring t hat financial inst it ut ions and DNFBPs are subj ect t o adequat e AML/ CFT regulat ion and supervision, and t hat com pet ent aut horit y or aut horit ies have been designat ed t o ensure com pliance w it h AML/ CFT requirem ent s ( Recom m endat ions 23, 24 and 29) ; ( 4) im plem ent ing
effect ive, proport ionat e and dissuasive sanct ions in order t o deal w it h nat ural or legal persons t hat do not com ply w it h t he nat ional AML/ CFT requirem ent s ( Recom m endat ion 17) ; and ( 5) t aking t he necessary act ion t o gain m em bership of GI ABA. The FATF encourages São Tom é and Príncipe t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
S r i La n k a
I n February 2010, Sri Lanka m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and APG t o address it s st rat egic AML/ CFT deficiencies. How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain. Sri Lanka should cont inue t o w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) adequat ely crim inalising m oney laundering and t errorist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; and ( 2) est ablishing and im plem ent ing adequat e procedures t o ident ify and freeze t errorist asset s ( Special Recom m endat ion I I I ) . The FATF encourages Sri Lanka t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
S u d a n
I n February 2010, Sudan m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and
MENAFATF t o address it s st rat egic AML/ CFT deficiencies. Since June, Sudan has t aken st eps t ow ards im proving it s AML/ CFT regim e, including by conduct ing out reach t o financial inst it ut ions on AML/ CFT obligat ions and t aking init ial st eps t o operat ionalise t he FI U. How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain. Sudan should cont inue t o w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) im plem ent ing adequat e procedures for ident ifying and freezing t errorist asset s ( Special Recom m endat ion I I I ) ; ( 2) ensuring a fully operat ional and effect ively funct ioning Financial I nt elligence Unit ( Recom m endat ion 26) ; ( 3) ensuring financial inst it ut ions are aw are of and com ply w it h t heir obligat ions t o file suspicious t ransact ion report s in relat 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 supervisory program m e for t he regulat ors t o ensure com pliance w it h t he provisions of t he new law and regulat ions ( Recom m endat ion 23) . The FATF encourages Sudan t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
S y r ia
I n February 2010, Syria m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and MENAFATF t o address it s st rat egic AML/ CFT deficiencies. How ever, t he FATF has det erm ined t hat cert ain
st rat egic AML/ CFT deficiencies rem ain. Syria should cont inue t o w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) adopt ing adequat e m easures t o im plem ent and enforce t he 1999 I nt ernat ional Convent ion for t he Suppression of Financing of Terrorism ( Special Recom m endat ion I ) ; ( 2) adequat ely crim inalising t errorist financing ( Special Recom m endat ion I I ) ; ( 3) im plem ent ing adequat e procedures for ident ifying and freezing t errorist asset s ( Special
Ta n z a n ia
I n Oct ober 2010, Tanzania m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and ESAAMLG t o address it s st rat egic AML/ CFT deficiencies. Tanzania has t aken st eps t ow ards im proving it s AML/ CFT regim e. How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain. Tanzania w ill w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) adequat ely crim inalising m oney laundering and t errorist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2) est ablishing and im plem ent ing adequat e procedures t o ident ify and freeze t errorist asset s as w ell as im plem ent ing t he UNSCR 1267 and 1373 t hrough law , regulat ions or ot her enforceable m eans ( Special Recom m endat ion I I I ) ; ( 3) est ablishing effect ive CDD m easures
( Recom m endat ion 5) ; ( 4) est ablishing adequat e record - keeping requirem ent s ( Recom m endat ion 10) ; ( 5) est ablishing a fully operat 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 horit ies t o ensure com pliance w it h AML/ CFT requirem ent s ( Recom m endat ion 23) . The FATF encourages Tanzania t o address it s rem aining
deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
Th a ila n d
I n February 2010, Thailand m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and APG t o address it s st rat egic AML/ CFT deficiencies. How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain. Thailand should cont inue t o w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) adequat ely crim inalising t errorist financing ( Special Recom m endat ion I I ) ; ( 2) est ablishing and im plem ent ing adequat e procedures t o ident ify and freeze t errorist asset s ( Special Recom m endat ion I I I ) ; and ( 3) furt her st rengt hening AML/ CFT supervision ( Recom m endat ion 23) . The FATF encourages Thailand t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
Tr in id a d a n d To b a g o
I n February 2010, Trinidad and Tobago m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and CFATF t o address it s st rat egic AML/ CFT deficiencies. How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain. Trinidad and Tobago should cont inue t o w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) im plem ent ing adequat e procedures t o ident ify and freeze t errorist asset s w it hout delay ( Special Recom m endat ion I I I ) ; ( 2) im plem ent ing adequat e procedures for t he confiscat ion of funds relat ed t o m oney laundering
( Recom m endat ion 3) ; and ( 3) est ablishing a fully operat ional and effect ively funct ioning FI U, including supervisory pow ers ( Recom m endat ion 26) . The FATF encourages Trinidad and Tobago t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
Tu r k e y
I n February 2010, Turkey m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF t o address it s st rat egic AML/ CFT deficiencies. Since June, Turkey has t aken st eps t ow ards im proving it s AML/ CFT regim e, including by w orking on draft CFT legislat ion. How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain. Turkey should cont inue t o w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) adequat ely crim inalising t errorist financing ( Special Recom m endat ion I I ) ; and ( 2) im plem ent ing an adequat e legal fram ew ork for ident ifying and freezing t errorist asset s ( Special Recom m endat ion I I I ) . The FATF encourages Turkey t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
Tu r k m e n is t a n
I n June 2010, Turkm enist an m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and EAG t o address it s st rat egic AML/ CFT deficiencies. Since June, Turkm enist an has t aken st eps t ow ards im proving it s AML/ CFT regim e, including by holding t raining w orkshops t o build t he capacit y of it s FI U. How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain.
Turkm enist an w ill w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) addressing t he rem aining issues w it h t he crim inalisat ion of m oney laundering and t errorist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) , ( 2) im plem ent ing adequat e procedures t o ident ify and freeze t errorist asset s w it hout delay ( Special Recom m endat ion I I I ) ; ( 3) ensuring a fully operat ional and effect ively funct ioning FI U ( Recom m endat ion 26) , ( 4) developing collaborat ion bet w een t he FI U and dom est ic count erpart s, including supervisory aut horit ies, and ( 5) st rengt hening int ernat ional cooperat ion. The FATF encourages Turkm enist an t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
U k r a in e
I n February 2010, Ukraine m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and
im proving it s AML/ CFT regim e, including by bringing a new AML/ CFT law int o force. How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain. Ukraine should cont inue t o w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) addressing rem aining issues regarding crim inalisat ion of m oney laundering ( Recom m endat ion 1) ; and ( 2)
im proving and im plem ent ing an adequat e legal fram ew ork for ident ifying and freezing t errorist asset s ( Special Recom m endat ion I I I ) . The FATF encourages Ukraine t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
V e n e z u e la
I n Oct ober 2010, Venezuela m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and CFATF t o address it s st rat egic AML/ CFT deficiencies. Venezuela has t aken st eps t ow ards im proving it s
AML/ CFT regim e. How ever, t he FATF has det erm ined t hat cert ain st rat egic deficiencies rem ain. Venezuela w ill w ork w it h t he FATF and CFATF on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) adequat ely crim inalising t errorist financing ( Special Recom m endat ion I I ) ; ( 2) est ablishing and im plem ent ing adequat e procedures t o ident ify and freeze t errorist asset s ( Special Recom m endat ion I I I ) ; ( 3) ensuring a fully operat ional and effect ively funct ioning Financial I nt elligence Unit ( Recom m endat ion 26) ; ( 4) im plem ent ing adequat e CDD guidelines for all sect ors ( Recom m endat ion 5) ; and ( 5) est ablishing adequat e STR report ing obligat ions for ML and TF ( Recom m endat ion 13 and Special Recom m endat ion I V) . The FATF encourages Venezuela t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
V ie t n a m
I n Oct ober 2010, Viet nam m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF t o address it s st rat egic AML/ CFT deficiencies. Viet nam has t aken st eps t ow ards im proving it s AML/ CFT regim e. How ever, t he FATF has det erm ined t hat cert ain st rat egic AML/ CFT deficiencies rem ain. Viet nam w ill w ork w it h t he FATF and t he APG on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) adequat ely crim inalising m oney laundering and t errorist financing ( Recom m endat ion 1 and Special Recom m endat ion I I ) ; ( 2) est ablishing and im plem ent ing adequat e procedures t o ident ify and freeze t errorist asset s ( Special Recom m endat ion I I I ) ; ( 3) im proving t he overall supervisory fram ew ork ( Recom m endat ion 23) ; ( 4) im proving and broadening cust om er due diligence m easures and report ing requirem ent s ( Recom m endat ion 5, 13, and Special Recom m endat ion I V) ; and ( 5) st rengt hening int ernat ional cooperat ion ( Recom m endat ions 36, 40) . The FATF encourages Viet nam t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
Y e m e n
I n February 2010, Yem en m ade a high- level polit ical com m it m ent t o w ork w it h t he FATF and MENFATF t o address it s st rat egic AML/ CFT deficiencies. How ever, t he FATF has det erm ined t hat cert ain st rat egic deficiencies rem ain. Yem en should cont inue t o w ork on im plem ent ing it s act ion plan t o address t hese deficiencies, including by: ( 1) issue regulat ions t o im plem ent AML law ; ( 2)
est ablishing and im plem ent ing adequat e procedures t o ident ify and freeze t errorist asset s ( Special Recom m endat ion I I I ) ; ( 3) issuing subst ant ive guidance/ inst ruct ions t o report ing inst it ut ions w it h respect t o t heir ML/ FT obligat ions ( Recom m endat ion 25) ; ( 4) developing t he m onit oring and
supervisory capacit y of t he financial sect or supervisory aut horit ies and t he FI U, t o ensure com pliance by financial inst it ut ions w it h t heir STR obligat ions, especially in relat ion t o FT ( Recom m endat ion 23) ; and ( 5) ensuring a fully operat ional and effect ively funct ioning Financial I nt elligence Unit
( Recom m endat ion 26) . The FATF encourages Yem en t o address it s rem aining deficiencies and cont inue t he process of im plem ent ing it s act ion plan.
I n February 2010, t he FATF ident ified t he follow ing j urisdict ions as having st rat egic AML/ CFT deficiencies. Since t hen, t hey have subst ant ially addressed t he st rat egic deficiencies ident ified in t heir act ion plans and w ill be rem oved from t his FATF m onit oring process. The j urisdict ions w ill cont inue t o w ork w it h t heir respect ive FSRBs t o im prove t heir AML/ CFT regim es.
Q a t a r
The FATF w elcom es Qat ar’s significant progress in im proving it s AML/ CFT regim e and not es t hat Qat ar has m et it s com m it m ent s in it s Act ion Plan regarding t he st rat egic AML/ CFT deficiencies t hat t he FATF had ident ified in February 2010. Qat ar is t herefore no longer subj ect t o FATF’s m onit oring process under it s ongoing global AML/ CFT com pliance process. Qat ar w ill w ork w it h MENAFATF as it cont inues t o address t he full range of AML/ CFT issues ident ified in it s Mut ual Evaluat ion Report , in part icular com pliance w it h Special Recom m endat ion I I I ( adequat e procedures t o ident ify and freeze t errorist asset s) .
A z e r b a ija n
m onit oring process under it s ongoing global AML/ CFT com pliance process. Azerbaij an w ill w ork w it h MONEYVAL as it cont inues t o address t he full range of AML/ CFT issues ident ified in it s Mut ual Evaluat ion Report , part icularly com pliance w it h SRI I I ( adequat e procedures t o ident ify and freeze t errorist asset s) .
