FATF Statement
Published Date: 19 March 2012

February 2012 FATF Statement

On 16 Feb 2012, the Financial Action Task Force (FATF), of which Singapore is a member, issued an updated statement that highlighted the strategic deficiencies in the anti-money laundering/combating the financing of terrorism (AML/CFT) regimes of 2 groups of jurisdictions:

Democratic People’s Republic of Korea (DPRK) and Iran which have shown no commitment to address their AML/CFT deficiencies.

Ghana, Indonesia, Pakistan, Tanzania and Thailand, in addition to the jurisdictions whichhad been listed previously, i.e. Bolivia, Cuba, Ethiopia, Kenya, Myanmar, Nigeria, São Tomé and Príncipe, Sri Lanka, Syria and Turkey which have not made sufficient progress in addressing their strategic deficiencies.
Details of the FATF statement can be found at:


Financial institutions are advised to accord due consideration to the above FATF statement and take the appropriate action(s) as recommended by the FATF with respect to the named jurisdictions.

Separately, FATF has issued an updated statement on its on-going process to improve global AML/CFT compliance.  This statement provides information on a list of jurisdictions that have committed to action plans to address and strengthen their respective AML/CFT deficiencies.  The second FATF statement can be found at: