High-Risk Jurisdictions Subject to a Call for Action
The list of jurisdictions identified as having “serious strategic deficiencies in combating money laundering, terrorist financing, and proliferation financing” remains unchanged:
- Democratic People’s Republic of Korea (DPRK): The FATF continues to express concerns over the lack of significant progress in strengthening its anti-money laundering and counter-terrorist financing (AML/CFT) framework. It also highlights the threats posed by illicit activities, particularly the proliferation of weapons of mass destruction and their financing.
- Iran: Despite submitting reports in January, August, and December 2024, no substantial progress has been noted.
- Myanmar remains under heightened monitoring until its action plan is fully implemented. It is important to note that if no significant progress is made by June 2025, the FATF may consider imposing countermeasures.
Jurisdictions Under Increased Monitoring
Since October 2024, the FATF has reviewed the progress made by the following countries on its list: Bulgaria, Burkina Faso, Cameroon, Croatia, Democratic Republic of the Congo, Kenya, Mali, Mozambique, Namibia, Nigeria, Philippines, South Africa, South Sudan, Tanzania, Venezuela, and Vietnam.
Additionally, Algeria, Angola, Côte d’Ivoire, Haiti, Lebanon, Monaco, Syria, and Yemen postponed the submission of their reports.
Following this review:
- Lao PDR and Nepal have been added to the list of jurisdictions under increased monitoring.
- The Philippines have been removed and are no longer subject to increased monitoring.
- Algeria
- Angola
- Bulgaria
- Burkina Faso
- Cameroon
- Croatia
- Democratic Republic of the Congo
- Haiti
- Ivory Coast
- Kenya
- Lao People's Democratic Republic
- Lebanon
- Mali
- Monaco
- Mozambique
- Namibia
- Nepal
- Nigeria
- South Africa
- South Sudan
- Syria
- Tanzania
- Venezuela
- Vietnam
- Yemen
Membership Issues
The suspension of Russia as a FATF member remains in effect.
For further information, please contact offfice@rosemont-mc.com