The key developments include:
- The FATF granted full membership to Indonesia;
- Bulgaria has been added to the Grey List (list of jurisdictions under increased monitoring); and
- Albania, the Cayman Islands, Jordan, and Panama have been removed from the Grey list.
FATF will pursue strategic initiatives on:
- Improving Asset Recovery;
- Combating the Abuse of NPOs for Terrorist Financing;
- Crowdfunding for Terrorism Financing;
- Illicit Financial Flows from Cyber-Enabled Fraud;
- Misuse of Citizenship and Residency by Investment Programmes;
- Beneficial Ownership and Transparency.
Firms can view the published outcomes of the FATF Plenary to remain up-to-date on any developments which may affect their operations.
All Plenitude Compass subscribers will have been notified of the impacts of these changes. Learn more about Compass, our Financial Crime Country Risk Assessment Tool:
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