February 2010 FATF Statement
On 18 February 2010, the Financial Action Task Force (FATF), of which Singapore is a member, issued a statement highlighting the serious deficiencies in the anti-money laundering/combating the financing of terrorism (AML/CFT) regimes of the following jurisdictions:
- Iran
- Angola
- Ethiopia
- Ecuador
- DPRK
- Turkmenistan
- Pakistan
- Sao Tome & Principe
The text of the FATF statement may be found at: http://www.fatf-gafi.org/dataoecd/34/29/44636171.pdf
Financial institutions are advised to give due consideration to the above FATF public statement and take appropriate action as recommended by the FATF with respect to the individual jurisdictions.
FATF has separately issued a second statement on its ongoing process to improve global AML/CFT compliance. This statement provides information on 20 other jurisdictions that have committed to action plans to address deficiencies so as to strengthen their AML/CFT regimes. This second FATF statement can be found at http://www.fatf-gafi.org/dataoecd/34/28/44636196.pdf
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