Pakistan and, despite concerns, Nicaragua off FATF grey list
Pakistan and Nicaragua have been removed from the Financial Action Task Force (FATF) ‘grey list’ of jurisdictions under increased monitoring according to a statement issued at the end of the global financial watchdog’s plenary meetings in Paris last week. Pakistan, which has been on the…
Basel AML Index 2022 provides ML/TF risk scores based on data from 18 trusted sources
The Basel Institute on Governance has published its independent annual ranking that assesses the risk of money laundering and terrorist financing (ML/TF) around the world. Since 2012 the Basel AML Index has provided risk scores based on data from 18 publicly available sources, including the…
Haiti, Malta, Philippines and South Sudan added to FATF grey list, Ghana removed
Haiti, Malta, Philippines and South Sudan have been added to the Financial Action Task Force (FATF) list of jurisdictions under increased monitoring the task force announced at the end of its plenary session on 25 June. Ghana is the only country to be removed from…
Despite coronavirus impacts FATF removes Iceland and Mongolia from grey list, remains committed to AML/CFT brief
Due to the impacts of the coronavirus pandemic, the work of the Financial Action Task Force (FATF) has been significantly disrupted this year, including its work determining ‘jurisdictions under increased monitoring’. These jurisdictions – often referred to externally as countries on the FATF grey list…
European Union publishes new list of high risk countries
The European Commission (EC) has published a new annual list of high risk third countries that it believes pose significant threats to the financial system of the European Union (EU) because of failings in tackling money laundering and terrorism financing. The list aims to protect the…
US state department names major money laundering countries for 2018
The US state department has published its 2019 International Narcotics Control Strategy Report (INCSR). It contains a full volume on money laundering activity worldwide that includes an extensive commentary on the growing number of jurisdictions in which trade-based financial crime is becoming an increasing menace….
Mexico’s Sinaloa cartel turns to TBML to launder money and avoid tariffs
Mexico’s powerful Sinaloa drug cartel used trade-based money laundering (TBML) techniques in Colombia to clean up its illicit earnings while managing to avoid tariff payments in the process too, according to press reports. Colombia’s Portafolio newspaper recently reported that Sinaloa worked in cahoots with one…
FATF updates list of jurisdictions with AML and CFT deficiencies
The Financial Action Task Force (FATF) has updated its list of jurisdictions that have strategic deficiencies in their anti-money laundering (AML) and counter-terrorist financing (CFT) regimes. Indonesia has been removed from FATF’s list that calls for enhanced due diligence and has been moved to the…
