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Thursday, August 05, 2021

Haiti, Malta, Philippines, South Sudan put in FATF ‘increased monitoring’ list

According to an RBI statement, FATF had earlier identified 17 countries as having strategic deficiencies which have developed an action plan with the FATF to deal with them.

By: ENS Economic Bureau | Mumbai |
June 29, 2021 3:00:07 am
According to an RBI statement, FATF had earlier identified 17 countries as having strategic deficiencies which have developed an action plan with the FATF to deal with them.

Financial Action Task Force (FATF) has added four more countries — Haiti, Malta, the Philippines and South Sudan — to the list of ‘jurisdiction under increased monitoring’ for strategic deficiencies.

According to an RBI statement, FATF had earlier identified 17 countries as having strategic deficiencies which have developed an action plan with the FATF to deal with them. These jurisdictions are: Albania, Barbados, Botswana, Cambodia, Cayman Islands, Jamaica, Mauritius, Morocco, Myanmar, Nicaragua, Pakistan, Panama, Senegal, Syria, Uganda, Yemen and Zimbabwe. “As per the public statement, Haiti, Malta, Philippines, and South Sudan have now been added to the list of Jurisdiction under increased Monitoring based on the decision made at the June 2021 FATF plenary,” the RBI said.

FATF plenary releases documents titled “High-Risk jurisdictions subject to a Call for Action” and “Jurisdictions under increased Monitoring” with respect to jurisdictions that have strategic Anti-Money Laundering and Combating of Financing of Terrorism deficiencies as part of the ongoing efforts to identify and work with jurisdictions with strategic AML and CFT deficiencies, it said.

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