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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 ...
For all countries identified as high-risk, the FATF calls on all members and urges all jurisdictions to apply enhanced due diligence. In the most serious cases, countries are called upon to apply counter-measures to protect the international financial system from the ongoing money laundering, terrorist financing, and proliferation financing ...
Most of the 39 FATF member countries treat domestic and foreign PEPs with heightened scrutiny. The FATF guidance implies that if a person is a foreign PEP, it makes them a de facto domestic PEP within their own country. [citation needed]
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]
The Asia/Pacific Group on Money Laundering (APG) is a FATF-style regional inter-governmental (international) body, the members of which are committed to effectively implementing the international standards against money laundering (Anti–money laundering or AML), combating the financing of terrorism (CFT) and financing the proliferation of weapons of mass destruction.
This can damage relationships between long-term clients who need to prove their identity, and respected members of society do not want to be asked for personal identification every time. [6] [19] The FATF Blacklist (the Non-Cooperative Countries or Territories list) mechanism was used to coerce countries to bring about change.
Organisations grouping almost all the countries in their respective continents. Note that Cuba is a suspended member of the Organization of American States (OAS). Several smaller regional organizations with non-overlapping memberships. Several non-overlapping large alliances. Softer colors indicate observer/associate or candidate countries.
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.