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FATF Says 11 Nations are Slow With AML Improvements
By Colby Adams
printEleven jurisdictions have yet to make "significant progress" on improving their anti-money laundering regimes despite having had six months to more than a year to do so, an intergovernmental watchdog said Monday. The Paris-based Financial Action Task Force (FATF) criticized the nations for failing to address "the majority of their action plan items" agreed to with the group after it cited them for poor anti-money laundering (AML) and counterterrorism financing regimes in two lists published in February 2010. The organization said it would consider the countries noncompliant if they failed to improve by June and would call upon FATF members...
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