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FATF incentivizes stricter regulations through its public noncomplier list, which leads financial institutions to shift resources and services away from the countries on the blacklist. This in turn motivates domestic economic and political actors in the listed countries to pressure their governments to introduce regulations that are compliant ...
In addition to FATF's "Forty plus Nine" Recommendations, in 2000 FATF issued a list of "Non-Cooperative Countries or Territories" (NCCTs), commonly called the FATF Blacklist. This was a list of 15 jurisdictions that, for one reason or another, FATF members believed were uncooperative with other jurisdictions in international efforts against ...
In addition to Vietnam, 10 African countries, including Mozambique and Uganda, are under FATF scrutiny for risks of proliferation funding, according to the public list on the body's website.
FATF has developed 40 recommendations on money laundering and 9 special recommendations regarding terrorist financing. FATF assesses each member country against these recommendations in published reports. Countries seen as not being sufficiently compliant with such recommendations are subjected to financial sanctions. [23] [24]
OFAC creates separate entries in the SDN list for each alias of a designee, so the number of entries does not reflect the number of designees. [3] On September 21, 2021, a cryptocurrency exchange was included in the sanctions list for first time for helping launder illicit funds having source from ransomware attacks. The amounts laundered are ...
Regarding the implementation of resolution 1267 and the 1988/1989 sanction regimes, FATF has criticized the EU for too slow action regarding enforcement of the UN-listings of asset freezing. According to FATF's recommendations the member countries should implement economic sanctions settled by the UN, without impediment.
List of sanctioned countries (the below is not an exhaustive list): [87] Afghanistan sanctions by the US [88] China by the EU and the US. Sanctions made on arms embargo, enacted in response to the Tiananmen Square protests of 1989 [89] European Union arms embargo on the People's Republic of China; Hong Kong, enacted in response to the National ...
The G7's illicit finance body, the Financial Action Task Force (FATF), last year removed Cambodia from its "grey list" of countries with flawed anti-money laundering policies, citing improvements ...