INTERNATIONAL: FATF Publishes Updated Information on High Risk and Non-Cooperative Jurisdictions

Wednesday September 13 2017

Following the findings it made in a Compliance Review on the 23^rd of June 2017, the Financial Action Task Force (FATF) has made changes to its list of Compliant Countries.

Notably both Afghanistan and Lao PDR( Peoples Democratic Republic) were both removed from the list of High Risk countries

FATF noted that since 2012 Afghanistan has established the legal and regulatory framework to meet its commitments in its action plan regarding its strategic defences in combatting  Money laundering. The FATF will continue to work with Afghanistan to address the full range of AML/CFT issues identified in its mutual evaluation report, in particular, fully implementing the cross-border regulations at its official land border crossing points.

Similarly the FATF has praised Lao PDR in its efforts at improving its legal and regulatory framework which now meets the FATF AML/CFT standards. FATF has also announced it will continue to work with Lao PDR to solve outstanding issues around compliance.

For additional information please click the link above.