Im p ro vin g Glo b a l AML/ CFT Co m p lia n ce : o n -go in g p ro ce s s - 2 8
Octo be r 2 0 11
Par is, 28 Oct ober 2011 - As par t of it s on- going 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 on- going basis, t hat pose a r isk t o 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 next 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 .
Alge ria
I n Oct ober 2011, Alger ia 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. Alger ia has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e. 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. Alger ia w ill 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 ions I and I I ) ; ( 2) 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 ) , ( 3) im pr oving and br oadening CDD m easur es and ensur ing t hat t hey apply t o all financial inst it ut ions ( Recom m endat ion 5) ; ( 4) ensur ing a fully oper at ional and effect ively funct ioning Financial I nt elligence Unit , in par t icular addr essing t he oper at ional aut onom y of t he FI U and t he aut hor it y of t he FI U t o r equest and access infor m at ion ( Recom m endat ion 26) ; and ( 5) enact ing and im plem ent ing appr opr iat e m ut ual legal assist ance legislat ion ( Special Recom m endat ion V) . The FATF encour ages Alger ia t o addr ess it s deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
An go la
I n June 2010, Angola 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 June 2011, Angola has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e, including by issuing CDD r egulat ions t o banks. 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. Angola 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) ensur ing 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.
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. Since June 2011, Ant igua and Bar buda has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e, including by com m encing off - sit e inspect ions of it s 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
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.
Arge n tin a
I n June 2011, Ar gent ina 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 hen, Ar gent ina has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e, including by addr essing som e of t he concer ns t he FATF expr essed r egar ding it s June 2011 am endm ent s t o it s AML legislat ion, subm it t ing dr aft CFT legislat ion t o Nat ional Congr ess, issuing a decr ee dealing w it h evaluat ing effect iveness of it s AML/ CFT m easur es; and issuing an FI U Resolut ion enhancing CDD m easur es for t he financial and for eign exchange sect or s. The FATF has det er m ined t hat st r at egic AML/ CFT deficiencies r em ain. Ar gent ina w ill 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 and
addr essing t he r em aining deficiencies w it h r egar d t o t he cr im inalisat ion of m oney launder ing ( Special Recom m endat ion I I and Recom m endat ion 1) ; ( 2) est ablishing and 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 and ident ifying and fr eezing t er r or ist asset s ( Recom m endat ion 3 and Special Recom m endat ion I I I ) ; ( 3) enhancing financial t r anspar ency
( Recom m endat ion 4) ; ( 4) ensur ing a fully oper at ional and effect ively funct ioning Financial I nt elligence Unit and im pr oving suspicious t r ansact ion r epor t ing r equir em ent s ( Recom m endat ion 13, Special Recom m endat ion I V and Recom m endat ion 26) ; ( 5) im plem ent ing an adequat e AML/ CFT super visor y pr ogr am m e for all financial sect or s ( Recom m endat ions 17, 23 and 29) ; ( 6) im pr oving and br oadening CDD m easur es for t he non - banking or non - for eign exchange sect or s ( Recom m endat ion 5) ; and ( 7) est ablishing appr opr iat e channels for int er nat ional co- oper at ion and ensur ing effect ive im plem ent at ion ( Recom m endat ion 36, Recom m endat ion 40 and Special Recom m endat ion V) . The FATF encour ages Ar gent ina 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 June 2011, Bangladesh has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e, including by issuing AML/ CFT guidance not es for t he insur ance sect or . 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 co- oper 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.
Bru n e i D a ru s s a la m
I n June 2011, Br unei Dar ussalam 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 t hen, Br unei Dar ussalam has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e, including by enact ing an Ant i- Ter r or ism Or der in July 2011. How ever , t he FATF has det er m ined t hat st r at egic AML/ CFT deficiencies r em ain. Br unei Dar ussalam 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) est ablishing and 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) 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) ; ( 5) ensur ing a fully oper at ional and effect ively funct ioning Financial I nt elligence Unit ( Recom m endat ion 26) ; and ( 6) enact ing and im plem ent ing appr opr iat e m ut ual legal assist ance legislat ion ( Recom m endat ion 36 and Special Recom m endat ion V) . The FATF encour ages Br unei Dar ussalam 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.
Ca m b o d ia
( 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) est ablishing and 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) ; and ( 5) est ablishing 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 Cam bodia 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. The FATF has det er m ined t hat cer t ain st r at egic AML/ CFT deficiencies r em ain. Ecuador 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) ensur ing adequat e cr im inalisat ion of 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 ) ; ( 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) r einfor cing and im pr oving co- or 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.
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 t hat t im e, Hondur as 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 and fr eezing of t er r or ist asset s and im plem ent ing r esolut ions t hat aim t o im pr ove CDD m easur es. 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.
Kyrgyzs ta n
I n Oct ober 2011, Kyr gyzst 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. Kyr gyzst an has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e. 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. Kyr gyzst an w ill 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 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 ) ( 3) 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) ; ( 4) est ablishing effect ive CDD m easur es for all financial inst it ut ions ( Recom m endat ion 5) ; and ( 5) im plem ent ing an adequat e and effect ive AML/ CFT super visor y pr ogr am m e for all financial sect or s ( Recom m endat ion 23) . The FATF encour ages Kyr gyzst an t o addr ess it s deficiencies and cont inue t he pr ocess of im plem ent ing it s act ion plan.
Mo n go lia
I n June 2011, Mongolia 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. The FATF has det er m ined t hat st r at egic AML/ CFT deficiencies r em ain. Mongolia 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) est ablishing 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) est ablishing 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) ; ( 5) est ablishing a fully oper at ional and effect ively funct ioning Financial
I nt elligence Unit ( Recom m endat ion 26) ; and ( 6) dem onst r at ing effect ive r egulat ion of m oney ser vice pr ovider s. The FATF encour ages Mongolia 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 hen, 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
t er r or ist financing ( Special Recom m endat ion I I ) .
N a m ibia
I n June 2011, Nam ibia 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. Nam ibia has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e, including by secur ing t he infor m at ion held in t he FI U. How ever , t he FATF has det er m ined t hat st r at egic AML/ CFT deficiencies r em ain. Nam ibia 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 ) ; ( 3) im plem ent ing an adequat e AML/ CFT
super visor y pr ogr am m e w it h sufficient pow er s ( Recom m endat ion 23 and 29) ; ( 4) ensur ing a fully oper at ional and effect ively funct ioning Financial I nt elligence Unit , in par t icular addr essing t he oper at ional aut onom y of t he FI U ( Recom m endat ion 26) ; ( 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 non - com pliance w it h t he nat ional AML/ CFT
r equir em ent s ( Recom m endat ion 17) ; and ( 6) 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 Nam ibia 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
I n Febr uar y 2010, Nepal 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 June 2011, Nepal has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e, including by appr oving an AML/ CFT Nat ional 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. Nepal 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) ; 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 ica ra gu a
I n June 2011, Nicar agua 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 t hen, Nicar agua has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e, including by est ablishing an agency r esponsible for r egulat ing and super vising t he m icr ofinance indust r y. How ever , t he FATF has det er m ined t hat st r at egic AML/ CFT deficiencies r em ain. Nicar agua 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 effect ive CDD m easur es and r ecor d - keeping r equir em ent s, in par t icular ent it ies not cur r ent ly r egulat ed by t he super visor y aut hor it y ( Recom m endat ion 5 and
Recom m endat ion 10) ; ( 2) est ablishing adequat e STR r epor t ing obligat ions for ML and FT
( Recom m endat ion 13 and Special Recom m endat ion I V) ; ( 3) im plem ent ing an adequat e AML/ CFT super visor y pr ogr am m e for all financial sect or s ( Recom m endat ion 23) ; ( 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 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 ) The FATF encour ages Nicar agua 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 t hat t im e, Par aguay has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e, including enact ing CFT legislat ion and issuing r egulat ions pr ohibit ing anonym ous account s. 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.
P h ilip p in e s
cover age of r epor t ing ent it ies ( Recom m endat ions 12 and 16) . 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 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 June 2011, Sudan has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e, including by im pr oving t he over all infr ast r uct ur e of t he FI U and t he super visor y fr am ew or k. 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 t hat 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 r egulat or s t o ensur e com pliance w it h t he pr ovisions of t he new law and
r egulat ions ( Recom m endat ion 23) . The FATF encour ages Sudan 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.
Ta jikis ta n
I n June 2011, Taj ikist 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. The FATF has det er m ined t hat st r at egic AML/ CFT deficiencies r em ain. Taj ikist 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) 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 for t he confiscat ion of funds r elat ed t o m oney launder ing and ident ifying and fr eezing t er r or ist asset s ( Recom m endat ion 3 and Special Recom m endat ion I I I ) ; ( 3) enhancing financial t r anspar ency ( Recom m endat ion 4) ; ( 4) ensur ing a fully oper at ional, and effect ively funct ioning Financial I nt elligence Unit and im pr oving suspicious t r ansact ion r epor t ing r equir em ent s
( Recom m endat ion 13, Special Recom m endat ion I V, and Recom m endat ion 26) ; and ( 5) im pr oving and br oadening CDD m easur es ( Recom m endat ion 5) . The FATF encour ages Taj ikist 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.
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 June 2011, 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 est ablishing a legal fr am ew or k t o fr eeze t er r or ist asset 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. 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) 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 ( 2) st r engt hening int er nat ional co- oper at ion in t he ar eas of invest igat ion and confiscat ion/ r epat r iat ion of funds. 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.
Trin id a d a n d To ba go
I n Febr uar y 2010, Tr inidad and Tobago 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 June 2011, Tr inidad and Tobago has t aken st eps t ow ar ds im pr oving it s AML/ CFT r egim e, including by com plet ing t he r egist r at ion pr ocess of t he list ed businesses and init iat ing t he super vision of t he list ed ent it ies. 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. Tr inidad and Tobago 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 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 ) ; and ( 2) est ablishing a fully oper at ional and effect ively funct ioning Financial I nt elligence Unit , 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.
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 t hen, Venezuela has t aken st eps t ow ar ds
im pr oving it s AML/ CFT r egim e, including by im pr oving t he independence of t he FI U and t he r egulat ions for t he banking and secur it ies sect or s. 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
fully oper at 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 or s ( Recom m endat ion 5) ; and ( 5) est ablishing adequat e STR r epor t ing obligat ions for ML and FT ( Recom m endat ion 13 and Special Recom m endat ion I V) . The FATF encour ages Venezuela 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.
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. The 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) m aking legal per sons subj ect t o cr im inal liabilit y in line w it h FATF Recom m endat ion 2 or dem onst r at ing t hat t her e is a const it ut ional pr ohibit ion t o pr event t his; ( 4) im pr oving t he over all super visor y fr am ew or k ( Recom m endat ion 23) ; ( 5) 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 ( 6) st r engt hening int er nat ional co- oper 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. The 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) conduct ing out r each t o sensit ise r epor t ing inst it ut ions of t heir AML/ CFT 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.
Zim b a b w e
I n June 2011, Zim babw e 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. The FATF has det er m ined t hat st r at egic AML/ CFT
deficiencies r em ain. Zim babw e 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 I 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) ensur ing a fully oper at ional and effect ively funct ioning Financial I nt elligence Unit ( Recom m endat ion 26) ; ( 4) ensur ing t hat 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) ; ( 5) enact ing and im plem ent ing appr opr iat e m ut ual legal assist ance legislat ion ( Special Recom m endat ion V) ; and ( 6) 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 Zim babw e 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
The FATF w elcom es Ukr aine’s significant pr ogr ess in im pr oving it s AML/ CFT r egim e and not es t hat Ukr aine has lar gely m et it s com m it m ent s in it s Act ion Plan r egar ding t he st r at egic deficiencies t hat t he FATF had ident ified in Febr uar y 2010. Ukr aine is t her efor e no longer subj ect t o FATF’s m onit or ing pr ocess under it s on- going global AML/ CFT com pliance pr ocess. Ukr aine w ill w or k w it h MONEYVAL as it cont inues t o addr ess t he full r ange of AML/ CFT issues ident ified in it s Mut ual Evaluat ion Repor t , and fur t her st r engt hen it s AML/ CFT r egim e.
J u ris d ictio n n o t m a kin g s u fficie n t p ro gre s s
associat ed w it h t he j ur isdict ion.
Gh a n a
Despit e Ghana’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 Ghana 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. Ghana should w or k w it h t he FATF and GI ABA 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.
In d o n e s ia
Despit e I ndonesia’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 I ndonesia 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 ndonesia should 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 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.
Pa kis ta n
Despit e Pakist an’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 Pakist an 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. Pakist an failed t o pr ovide a sat isfact or y r esponse t o t he FATF’s par t icular concer n about t he lack of
im plem ent at ion r egar ding Pakist an’s t er r or ist financing offence expr essed in June 2011 and it s calls upon Pakist an t o dem onst r at e specific act ion in t his r egar d. Pakist an should w or k on im plem ent ing it s act ion plan t o addr ess t hese deficiencies, including by ( 1) dem onst r at ing adequat e cr im inalisat ion of t er r or ist financing and addr essing t he r em aining deficiencies w it h r egar d t o t he cr im inalisat ion of m oney launder ing ( Special Recom m endat ion I I and Recom m endat ion 1) ; ( 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.
Ta n za n ia
Despit e Tanzania’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 Tanzania 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. Tanzania should 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.
