2023-06-23 21:10:00
The anti-money laundering organization Financial Action Task Force assures that the three countries have made “progress” on certain recommended measures.
By VD with AFP The Gafi is working with the countries on the “grey list” on their progress in resolving the problems of money laundering and the financing of terrorism. © Kai Forsterling / EFE Published on 06/23/2023 at 9:10 p.m.
Croatia, Cameroon and Vietnam were placed on Friday on the “grey list” of countries subject to “enhanced surveillance” by the anti-money laundering organization Financial Action Task Force (FATF), according to a press release. These countries join 23 others on this list of jurisdictions that have “strategic deficiencies in their regimes to combat” money laundering, the financing of terrorism and the proliferation of weapons of mass destruction but “actively work” with the organization to remedy them and “are committed to resolving (them) quickly”.
On this list are notably the United Arab Emirates, Panama and Syria. Morocco and Cambodia came out in February after several years of “enhanced surveillance”; Nigeria and South Africa had been added. For its part, Russia was then suspended as a member of Gafi, a decision which “still stands”. More than 200 countries and jurisdictions have committed to implementing the FATF standards.
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“Progress” mentioned
FATF is working with ‘grey list’ countries on their progress in addressing money laundering and terrorist financing issues and ‘calls on these jurisdictions to complete their action plans expeditiously and within agreed timelines’, according to approved documents at the end of a plenary meeting in Paris. Cameroon, Croatia and Vietnam have “committed at a high political level to work” with the FATF and have made “progress” on certain points and recommended measures.
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The Gafi has not changed its “black list” of countries with “serious strategic deficiencies” and which, according to the organization, must be subject to “increased vigilance” by other countries. On this list are North Korea, Iran and Burma. The Gafi, responsible for studying the way in which terrorism is financed and money laundered, develops standards and issues recommendations so that member countries can take the necessary measures to remedy the shortcomings identified by the organization.
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