On Thursday 17 October, the Financial Action Task Force (FATF) announced that it had made major changes to the criteria for including countries on the list of jurisdictions with deficient systems for fighting money laundering and terrorist financing. The aim of this change is to ease the pressure on least developed countries and focus on those countries that pose greater risks to the international financial system.
The FATF, in collaboration with the relevant FATF-style regional body, if...