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FATF Blacklist May Be Weakened By What It Doesn’t Include, Say Consultants
printOmissions in an intergovernmental group's lists of countries with lax anti-money laundering and counter terrorist financing controls may undermine the organization's effectiveness in fighting the crimes, say compliance consultants. On Thursday, the Financial Action Task Force (FATF) named eight countries with the most severe problems and 20 jurisdictions that had yet to follow through on plans to work with the organization. The name-and-shame documents were published at the behest of Group of 20 leaders, who called on the Paris-based organization to revive a blacklist last maintained by FATF in 2006. That only eight countries-including Iran, Ecuador, North Korea, Angola and...
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