The Financial Action Task Force (FATF) announced that it was removing Jamaica and Turkey from the list of high-risk jurisdictions for money laundering and terrorist financing (AML/CFT) on Friday 28 June at the press conference closing its plenary session in Singapore.
The FATF has assessed that Jamaica and Turkey have taken substantial steps to improve their AML/CFT regimes in accordance with their Action Plans. While the former is on the EU list of high-risk third-country jurisdictions with strategic AML/CFT deficiencies, the latter was not on the list when it was last updated in March (see EUROPE 13373/16).
Conversely, two countries have just been placed on the ‘grey’ list: Monaco and Venezuela. “These two countries have agreed to implement Action Plans in order to remedy these shortcomings”, emphasised Singapore’s T. Raja Kumar, President of the FATF. The next update of the list by the European Commission is scheduled for August.
As far as membership is concerned, the Russian Federation’s status hasn’t changed and remains suspended, on the same basis as the suspension announced in February 2023.
The FATF has also finalised its methodology for assessing countries’ implementation of the updated Standards on asset recovery as part of the next round of mutual evaluations. Its members approved the FATF’s priorities under the incoming Mexican Presidency.
Further information: https://aeur.eu/f/cve (Original version in French by Anne Damiani)