FATF adds 2 countries to high risk list

Outputs from the last FATF plenary meeting to take place under Singapore’s presidency included:

  • adding Monaco and Venezuela to its list of jurisdictions subject to increased monitoring and removing Jamaica and Turkiye from it;
  • calling for even greater vigilance and renewed enforcement of countermeasures against DPRK in the light of evidence of the country having increased connectivity with the financial system;
  • reporting a good level of technical compliance with its standards for India, but concerns over the effectiveness of Kuwait’s ability to deliver effective outcomes;
  • a discussion of ongoing work to revise the standards on Payment Transparency; and
  • an update on progress in implementing the FATF standards on virtual assets.

Presidency now passes to Mexico.

Emma Radmore