The Financial Action Task Force will apply "counter-measures" against Nauru, the South Pacific island that is a notorious money laundering haven. Nauru missed a November 30 deadline to strengthen its money laundering law of August 28. Earlier this year, the Paris-based FATF placed Nauru on its list of non-cooperative countries and territories. The counter-measures, among other things, warn non-financial businesses that conduct transactions with Nauru that they may run money laundering the risks. They also call for "systematic reporting" of financial transactions with Nauru. The FATF will revisit Nauru's laundering controls at a January 30 plenary meeting.
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