Non-Cooperative Counties

  • FATF identifies non-cooperative countries assessing them on 4 criteria:

    • Loopholes in financial regulations: including inadequate supervision or creation of financial institutions, excessive secrecy, lack of suspicious transaction reporting

    • Obstacles raised by regulatory requirements: inadequate business registrations, lack of beneficial owner information

    • Obstacles to international cooperation: administrative or judicial blockages

    • Inadequate resources for AML efforts, including the absence of an FIU

  • Nigeria and Myanmar were the last two countries to be removed from the list in 2006.

  • FATF now risk rates jurisdictions based on the compliance with the above.

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