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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 ...
Often linked in legislation and regulation, terrorism financing and money laundering are conceptual opposites. Money laundering is the process where cash raised from criminal activities is made to look legitimate for re-integration into the financial system, whereas terrorism financing cares little about the source of the funds, but it is what the funds are to be used for that defines its scope.
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.
The European Commission added Saudi Arabia, Panama and four U.S. territories to a blacklist of nations it considers a threat because of lax controls on terrorism financing and money laundering ...
European Union list of terrorist groups and individuals, 2007; European Union list of terrorist groups and individuals, January 2009; Kurth Cronin, Audrey; Huda Aden, Adam Frost, and Benjamin Jones (2004-02-06) (PDF). Foreign Terrorist Organizations. Congressional Research Service. Retrieved on 2009-03-04.
The Central American country's first stint on the Financial Action Task Force's (FATF) so-called gray list, which can impact a country's investment ratings and reputation, was from 2014 to 2016.
When individuals are added to the list of Specially Designated Nationals (SDN), their U.S. assets are blocked. Moreover, their names are added to automated screening systems used by banks in the United States and many foreign countries, making it difficult for them to open or hold accounts, transfer money, or transact properties internationally ...