FATF Statement
Published Date: 22 July 2010

June 2010 FATF Statement

On 25 June 2010, the Financial Action Task Force (FATF), of which Singapore is a member, issued an updated statement highlighting the serious deficiencies in  the anti-money laundering/combating the financing of terrorism (AML/CFT) regimes of the following jurisdictions:

  • Iran
  • Democratic People's Republic of Korea 
  • Sao Tome & Principe

The text of the FATF statement may be found at: http://www.fatf-gafi.org/dataoecd/17/5/45540828.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  25 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/17/4/45540819.pdf