FATF has updated lists with jurisdictions under Increased Monitoring and High-Risk Jurisdictions

01.11.2023

Jurisdictions under Increased Monitoring actively work and cooperate with the Financial Action Task Force (FATF) to address strategic gaps in their regimes to combat money laundering, terrorist financing, and proliferation financing.

FATF has updated lists with jurisdictions under Increased Monitoring and High-Risk Jurisdictions. All countries that are identified as High-Risk Jurisdictions have been identified significant strategic weaknesses in combating money laundering, terrorist financing, and proliferation financing. Accordingly, countries must perform enhanced due diligence and countermeasures to protect the international financial system from financial crime risks. In October 2023, the FATF identified the Democratic People's Republic of Korea, Iran, and Myanmar as High-Risk Jurisdictions.

 

On the other hand, FATF assigns Increased Monitoring to those Jurisdictions that have committed to quickly resolve identified deficiencies within agreed timeframe and is subject to increased monitoring. Last week FATF identified Barbados, Burkina Faso, Democratic Republic of Congo, Gibraltar, Haiti, Jamaica, Mali, Mozambique, Nigeria, Philippines, Senegal, South Africa, South Sudan, Tanzania, Türkiye, UAE, and Uganda as Jurisdictions under Increased Monitoring.

 

You can find a more detailed description of High-Risk Jurisdictions here: https://www.fatf-gafi.org/content/fatf-gafi/en/publications/High-risk-and-other-monitored-jurisdictions/Call-for-action-october-2023.html

 

Get to know the list of Jurisdictions under Increased Monitoring in more detail here: https://www.fatf-gafi.org/content/fatf-gafi/en/publications/High-risk-and-other-monitored-jurisdictions/Increased-monitoring-october-2023.html

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