The Financial Action Task Force (FATF), of which Singapore is a member, issued a statement on 28 February 2008, which expressed concern over the deficiencies in the anti-money laundering/combating the financing of terrorism (AML/CFT) regime in:

• Uzbekistan
• Iran
• Pakistan
• Turkmenistan
• São Tomé and Príncípe
• Northern Part of Cyprus

The text of the FATF statement may be found at https://www.fatf-gafi.org/content/fatf-gafi/en/publications/High-risk-and-other-monitored-jurisdictions/Fatfstatement-28february2008.html

Financial institutions are advised to take the actions as recommended by the FATF with respect to the individual countries.