The Financial Action Task Force removed Nauru from its list of non-cooperative countries and territories (NCCTs) Thursday at its plenary meeting in Paris. "Nauru abolished its 400 shell banks, thus removing the major money laundering risk," the FATF said in a statement. The intergovernmental body composed of delegates from 32 jurisdictions and 16 international organizations had placed Nauru on the list in June of 2000. The FATF has used the list since that time as a way to push countries to adopt its 40 recommendations against money laundering. And then there were two The two remaining countries on the list...
An intergovernmental anti-money laundering watchdog should restore a blacklist of countries that don't comply with its international standards by February, Group of 20 members said Friday.
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