FATF Identifies Jurisdictions With Strategic Deficiencies

On the 23 October 2015 the FATF issued a public statement whereby it identified the jurisdictions that have strategic deficiencies to the international financial system. As  in  previous  occasions,  the  FATF  has  classified  the jurisdictions into three different categories, in accordance with  the  deficiencies  present  in  such  jurisdictions  and the level of commitment and progress made in addressing such deficiencies.

The categories are the following:

1. Jurisdictions  that  have  failed to meaningfully address their AML/CFT deficiencies  and  are  subject  to counter-measures;
2. Jurisdictions that have not made sufficient progress in addressing their AML/CFT deficiencies or have not committed to an action plan developed with the FATF;