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High-risk and non-cooperative jurisdictions

The Financial Action Task Force (FATF) provides regular statements identifying and providing updates on jurisdictions with strategic deficiencies in their anti-money laundering and counter-terrorism financing (AML/CTF) regimes.

These statements lists those jurisdictions and effectively replaces any earlier statements regarding those jurisdictions:

  1. Statement on high-risk and non-cooperative jurisdictions - jurisdictions that have strategic AML/CTF deficiencies that have not made sufficient progress in addressing the deficiencies or have not committed to an action plan and those to which countermeasures apply.
  2. Statement on improving global AML/CTF compliance: ongoing process - jurisdictions that have strategic AML/CTF deficiencies that have developed an action plan with FATF.

Implications for reporting entities

Reporting entities should take the FATF statements into account when considering whether a transaction should be reported to AUSTRAC as a suspicious matter or a suspect transaction.

AUSTRAC recommends that reporting entities review their AML/CTF programs to accommodate the information provided in these statements.

The latest FATF statements on high-risk and non-cooperative jurisdictions are available on the the FATF website.

Last modified: 03/02/2015 14:05