International cooperation

The Financial Action Task Force (FATF), an intergovernmental working group operating under the Organisation for Economic Cooperation and Development (OECD), conducts international cooperation on combating money laundering and the financing of terrorism and proliferation of weapons of mass destruction. The FATF comprises 39 members: 37 jurisdictions and 2 regional organisations. Finland was accepted as a member in 1991.

The FATF develops and makes recommendations and also monitors their implementation in member countries through annual surveys and periodic country assessments.

The FATF has published 40 Recommendations on combating money laundering and the financing of terrorism and proliferation of weapons of mass destruction. The FATF member states have politically committed to comply with these Recommendations.

The Recommendations are available on the FATF website

The FATF’s country assessments survey the current situation regarding the prevention and detection of money laundering and terrorist financing in the country under review. Finland’s latest country assessment was completed in spring 2019 (published 16 April 2019). The first follow-up report on Finland’s country assessment will be discussed in the FATF in June 2020.

Finland’s country assessment is available on the FATF website.

The FATF publishes a regular newsletter, the FATF Business Bulletin, which highlights the FATF’s most important decisions and measures. The FATF Business Bulletin provides essential information especially for the private sector.

FATF Guidance and Best Practices

FATF Guidance on Digital Identity (Digital ID)

The FATF has published guidance that clarifies how Digital Identity (digital ID) systems can be used to fulfil customer due diligence (CDD) requirements.

Best Practices on Beneficial Ownership for Legal persons

In 2003, the FATF became the first international body to set global standards on beneficial ownership. These requirements were further strengthened and clarified in 2012. In October 2019, the FATF published Best Practices on Beneficial Ownership for Legal Persons, which is available on the FATF website.

Terrorist Financing Risk Assessment Guidance

In July 2019, the FATF published Terrorist Financing Risk Assessment Guidance, which is available on the FATF website.

Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers

Guidance issued by the FATF in June 2019 aims to clarify how FATF Recommendations should be applied to virtual assets and virtual asset service providers. The guidance follows a revision to the FATF Recommendations in October 2018 which broadened the application of the Recommendations to virtual assets and virtual asset service providers. The guidance also provides assistance to member states and authorities on how they should apply the FATF Recommendations to virtual asset service providers and on how the providers themselves should operate. Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers is available on the FATF website.

FATF Plenary and Working Group Meetings 2024

June 2024

A summary of the issues discussed and decided by the Plenary in June 2024 is available on the FATF website.

The FATF did not add any new jurisdictions to the list of High-Risk Jurisdictions subject to a Call for Action. These high-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members to apply enhanced due diligence, and 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 risks emanating from the country. This list is often externally referred to as the “black list”.

Jurisdictions subject to a FATF call to apply countermeasures: Democratic People's Republic of Korea (DPRK) and Iran.

The FATF reiterates its concerns over DPRK’s continued failure to address the significant deficiencies in its anti-money laundering and combating the financing of terrorism (AML/CFT) regime and the serious threats posed by the DPRK’s illicit activities related to the proliferation of weapons of mass destruction and its financing. In particular, the FATF notes that the DPRK has increased connectivity with the international financial system, which raises proliferation financing risks. The FATF reiterates the need for all countries to robustly implement the targeted financial sanctions in accordance with UNSC Resolutions and apply the following countermeasures:

• Terminate correspondent relationships with DPRK banks;
• Close any subsidiaries or branches of DPRK banks in their countries; and
• Limit business relationships & financial transactions with DPRK persons.

Jurisdiction subject to a FATF call to apply enhanced due diligence measures proportionate to the risks arising from the jurisdiction: Myanmar. When applying enhanced due diligence measures, it is important to ensure that flows of funds for humanitarian assistance, legitimate NPO activity and remittances are not disrupted.

The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. The FATF does not call for the application of enhanced due diligence to be applied to these jurisdictions but encourages its members to take into account the observations made by the FATF in their risk analysis. This list is often externally referred to as the "grey list".

New jurisdictions subject to increased monitoring: Monaco and Venezuela.

Jurisdiction no longer under increased monitoring: Jamaica and Türkiye.

February 2024

A summary of the issues discussed and decided by the Plenary in February 2024 is available on the FATF website.

The FATF did not add any new jurisdictions to the list of High-Risk Jurisdictions subject to a Call for Action. These high-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members to apply enhanced due diligence, and 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 risks emanating from the country. This list is often externally referred to as the “black list”.

Jurisdictions subject to a FATF call to apply countermeasures: Democratic People's Republic of Korea (DPRK) and Iran.

Jurisdiction subject to a FATF call to apply enhanced due diligence measures proportionate to the risks arising from the jurisdiction: Myanmar. 

When applying enhanced due diligence measures, it is important to ensure that flows of funds for humanitarian assistance, legitimate NPO activity and remittances are not disrupted.

The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. The FATF does not call for the application of enhanced due diligence to be applied to these jurisdictions, but encourages its members to take into account the observations made by the FATF in their risk analysis. This list is often externally referred to as the "grey list".

New jurisdictions subject to increased monitoring: Kenya and Namibia.

Jurisdiction no longer under increased monitoring: Barbados, Gibraltar, Uganda and the United Arab Emirates.

FATF Plenary and Working Group Meetings 2023

October 2023

A summary of the issues discussed and decided by the Plenary in October 2023 is available on the FATF website.

The FATF did not add any new jurisdictions to the list of High-Risk Jurisdictions subject to a Call for Action. These high-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members to apply enhanced due diligence, and 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 risks emanating from the country. This list is often externally referred to as the “black list”.

Jurisdictions subject to a FATF call to apply countermeasures: Democratic People's Republic of Korea (DPRK) and Iran.

Jurisdiction subject to a FATF call to apply enhanced due diligence measures proportionate to the risks arising from the jurisdiction: Myanmar. 

When applying enhanced due diligence measures, it is important to ensure that flows of funds for humanitarian assistance, legitimate NPO activity and remittances are not disrupted.

The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. The FATF does not call for the application of enhanced due diligence to be applied to these jurisdictions, but encourages its members to take into account the observations made by the FATF in their risk analysis. This list is often externally referred to as the "grey list".

New jurisdictions subject to increased monitoring: Bulgaria.

Jurisdiction no longer under increased monitoring: Albania, the Cayman Islands, Jordan and Panama.

June 2023

A summary of the issues discussed and decided by the Plenary in June 2023 is available on the FATF website.

The FATF did not add any new jurisdictions to the list of High-Risk Jurisdictions subject to a Call for Action. These high-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members to apply enhanced due diligence, and 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 risks emanating from the country. This list is often externally referred to as the “black list”.

Jurisdictions subject to a FATF call to apply countermeasures: Democratic People's Republic of Korea (DPRK) and Iran.

Jurisdiction subject to a FATF call to apply enhanced due diligence measures proportionate to the risks arising from the jurisdiction: Myanmar. 

When applying enhanced due diligence measures, it is important to ensure that flows of funds for humanitarian assistance, legitimate NPO activity and remittances are not disrupted.

The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. The FATF does not call for the application of enhanced due diligence to be applied to these jurisdictions but encourages its members to take into account the observations made by the FATF in their risk analysis. This list is often externally referred to as the "grey list".

New jurisdictions subject to increased monitoring: Cameroon, Croatia and Vietnam.

February 2023

A summary of the issues discussed and decided by the Plenary in February 2023 is available on the FATF website.

The FATF did not add any new jurisdictions to the list of High-Risk Jurisdictions subject to a Call for Action. These high-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members to apply enhanced due diligence, and 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 risks emanating from the country. This list is often externally referred to as the “black list”.

Jurisdictions subject to a FATF call to apply countermeasures: Democratic People's Republic of Korea (DPRK) and Iran

Jurisdiction subject to a FATF call to apply enhanced due diligence measures proportionate to the risks arising from the jurisdiction: Myanmar. 

When applying enhanced due diligence measures, it is important to ensure that flows of funds for humanitarian assistance, legitimate NPO activity and remittances are not disrupted.

The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. The FATF does not call for the application of enhanced due diligence to be applied to these jurisdictions but encourages its members to take into account the observations made by the FATF in their risk analysis. This list is often externally referred to as the "grey list".

New jurisdictions subject to increased monitoring: South Africa and Nigeria.

Jurisdiction no longer under increased monitoring: Cambodia and Morocco.

FATF Plenary and Working Group Meetings 2022

October 2022

A summary of the issues discussed and decided by the Plenary in October 2022 is available on the FATF website.

The FATF revised the list of High-Risk Jurisdictions subject to a Call for Action. These high-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members to apply enhanced due diligence, and 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 risks emanating from the country. This list is often externally referred to as the “black list”.

Jurisdictions subject to a FATF call to apply countermeasures: Democratic People's Republic of Korea (DPRK) and Iran

Jurisdiction subject to a FATF call to apply enhanced due diligence measures proportionate to the risks arising from the jurisdiction: Myanmar. 

When applying enhanced due diligence measures, it is important to ensure that flows of funds for humanitarian assistance, legitimate NPO activity and remittances are not disrupted.

The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. The FATF does not call for the application of enhanced due diligence to be applied to these jurisdictions, but encourages its members to take into account the observations made by the FATF in their risk analysis. This list is often externally referred to as the "grey list".

New jurisdictions subject to increased monitoring: Democratic Republic of the Congo, Mozambique, and Tanzania.

Jurisdiction no longer under increased monitoring: Nicaragua, Pakistan.

June 2022

A summary of the issues discussed and decided by the Plenary in June 2022 is available on the FATF website.

Due to the COVID-19 pandemic, the FATF has decided to pause the review process for the list of High-Risk Jurisdictions subject to a Call for Action. These high-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members to apply enhanced due diligence, and 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 risks emanating from the country. This list is often externally referred to as the “black list”.

Due to the general pause in the review process, the FATF refers to its statement published in February 2020. Even though the statement doesn't necessarily reflect the current status in Iran and Democratic People's Republic of Korea (DPRK) related to counter money laundering and terrorist financing, the FATF remains in force its Call for Action.

The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. The FATF does not call for the application of enhanced due diligence to be applied to these jurisdictions, but encourages its members to take into account the observations made by the FATF in their risk analysis. This list is often externally referred to as the "grey list".

Since the start of the COVID-19 pandemic, the FATF has provided some flexibility to the reporting. The following countries had their progress reviewed by the FATF since March 2022: Albania, Barbados, Burkina Faso, Cambodia, Cayman Islands, Haiti, Jamaica, Jordan, Mali, Malta, Morocco, Myanmar, Nicaragua, Pakistan, Panama, Philippines, Senegal, South Sudan, Türkiye, and Uganda. For these countries, there is updated information. The United Arab Emirates chose to defer reporting; thus, the information regarding the United Arab Emirates may not necessarily reflect the most recent status of the jurisdiction.

New jurisdictions subject to increased monitoring: Gibraltar.

Jurisdiction no longer under increased monitoring: Malta.

March 2022

A summary of the issues discussed and decided by the Plenary in March 2022 is available on the FATF website.

Due to the COVID-19 pandemic, the FATF has decided to pause the review process for the list of High-Risk Jurisdictions subject to a Call for Action. These high-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members to apply enhanced due diligence, and 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 risks emanating from the country. This list is often externally referred to as the “black list”.

Due to the general pause in the review process, the FATF refers to its statement published in February 2020. Even though the statement doesn't necessarily reflect the current status in Iran and Democratic People's Republic of Korea (DPRK) related to counter money laundering and terrorist financing, the FATF remains in force its Call for Action.

The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. The FATF does not call for the application of enhanced due diligence to be applied to these jurisdictions, but encourages its members to take into account the observations made by the FATF in their risk analysis. This list is often externally referred to as the "grey list".

Due to the COVID-19 pandemic, Jordan, Mali, Haiti and Turkey chose to defer reporting on the progress made in addressing their strategic deficiencies. For the countries, which chose to report, updated statements are provided. For countries, which chose to defer their reporting, the statements issued in June and October 2021 apply, but they may not necessarily reflect the most recent status of the jurisdiction’s AML/CFT regime.

New jurisdictions subject to increased monitoring: the United Arab Emirates.

Jurisdiction no longer under increased monitoring: Zimbabwe.

FATF Plenary and Working Group Meetings 2021

October 2021

A summary of the issues discussed and decided by the Plenary in October 2021 is available on the FATF website.

Due to the COVID-19 pandemic, the FATF has decided to pause the review process for the list of High-Risk Jurisdictions subject to a Call for Action. These high-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members to apply enhanced due diligence, and 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 risks emanating from the country. This list is often externally referred to as the “black list”.

Due to the general pause in the review process, the FATF refers to its statement published in February 2020. Even though the statement doesn't necessarily reflect the current status in Iran and Democratic People's Republic of Korea (DPRK) related to counter money laundering and terrorist financing, the FATF remains in force its Call for Action.

The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. The FATF does not call for the application of enhanced due diligence to be applied to these jurisdictions, but encourages its members to take into account the observations made by the FATF in their risk analysis. This list is often externally referred to as the "grey list".

Due to the COVID-19 pandemic, Burkina Faso, Haiti and South Sudan chose to defer reporting on the progress made in addressing their strategic deficiencies. For the countries, which chose to report, updated statements are provided. For countries, which chose to defer their reporting, the statements issued in February and June 2021 apply, but they may not necessarily reflect the most recent status of the jurisdiction’s AML/CFT regime.

New jurisdictions subject to increased monitoring: Jordan, Mali and Turkey.

Jurisdiction no longer under increased monitoring: Botswana and Mauritius.

June 2021

A summary of the issues discussed and decided by the Plenary in June 2021 is available on the FATF website.

Due to the COVID-19 pandemic, the FATF has decided to pause the review process for the list of High-Risk Jurisdictions subject to a Call for Action. These high-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members to apply enhanced due diligence, and 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 risks emanating from the country. This list is often externally referred to as the “black list”.

Due to the general pause in the review process, the FATF refers to its statement published in February 2020. Even though the statement doesn't necessarily reflect the current status in Iran and Democratic People's Republic of Korea (DPRK) related to counter money laundering and terrorist financing, the FATF remains in force its Call for Action.

The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. The FATF does not call for the application of enhanced due diligence to be applied to these jurisdictions, but encourages its members to take into account the observations made by the FATF in their risk analysis. This list is often externally referred to as the "grey list".

Due to the COVID-19 pandemic, Burkina Faso and Senegal chose to defer reporting on the progress made in addressing their strategic deficiencies. For the countries, which chose to report, updated statements are provided. For countries, which chose to defer their reporting, the statements issued in February 2021 apply, but they may not necessarily reflect the most recent status of the jurisdiction’s AML/CFT regime.

New jurisdictions subject to increased monitoring: Haiti, Malta, Philippines, and South Sudan.

Jurisdiction no longer under increased monitoring: Ghana.

February 2021

A summary of the issues discussed and decided by the Plenary in February 2021 is available on the FATF website.

Due to the COVID-19 pandemic, the FATF has decided to pause the review process for the list of High-Risk Jurisdictions subject to a Call for Action. These high-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members to apply enhanced due diligence, and 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 risks emanating from the country. This list is often externally referred to as the “black list”.

Due to the general pause in the review process, the FATF refers to its statement published in February 2020. Even though the statement doesn't necessarily reflect the current status in Iran and Democratic People's Republic of Korea (DPRK) related to counter money laundering and terrorist financing, the FATF remains in force its Call for Action.

The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. The FATF does not call for the application of enhanced due diligence to be applied to these jurisdictions, but encourages its members to take into account the observations made by the FATF in their risk analysis. This list is often externally referred to as the "grey list".

Due to the COVID-19 pandemic, Barbados and Jamaica chose to defer reporting on the progress made in addressing their strategic deficiencies. For the countries, which chose to report, updated statements are provided. For countries, which chose to defer their reporting, the statements issued in February 2020 apply, but they may not necessarily reflect the most recent status of the jurisdiction’s AML/CFT regime.

New jurisdictions subject to increased monitoring: Burkina Faso, the Cayman Islands, Morocco, and Senegal.

FATF Plenary and Working Group Meetings 2020

October 2020

A summary of the issues discussed and decided by the Plenary in October 2020 is available on the FATF website.

On August 2nd, 2020, the FATF decided to pause the review process for the list of High-Risk Jurisdictions subject to a Call for Action. These high-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members to apply enhanced due diligence, and 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 risks emanating from the country. This list is often externally referred to as the “black list”.

Due to the general pause in the review process, the FATF refers to its statement published in February 2020. Even though the statement doesn't necessarily reflect the current status in Iran and Democratic People's Republic of Korea (DPRK) related to counter money laundering and terrorist financing, the FATF remains in force its Call for Action.

The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. The FATF does not call for the application of enhanced due diligence to be applied to these jurisdictions, but encourages its members to take into account the observations made by the FATF in their risk analysis. This list is often externally referred to as the "grey list".

In response to the COVID-19 pandemic, the FATF gave the option for jurisdictions under increased monitoring to not report at the meeting held in October 2020. For the countries, which chose to report, updated statements are provided. For countries, which chose to defer their reporting, the statements issued in February 2020 apply, but they may not necessarily reflect the most recent status of the jurisdiction’s AML/CFT regime.

Jurisdictions no longer subject to monitoring: Iceland and Mongolia.

June 2020

A summary of the issues discussed and decided by the Plenary in June 2020 is available on the FATF website.

At its meeting on 28 April 2020, in response to the COVID-19 crisis, the FATF decided on a general pause in the review process regarding jurisdictions subject to a FATF call on its members to apply measures. These high-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members to apply enhanced due diligence, and 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 risks emanating from the country. This list is often externally referred to as the “black list”.

Due to the general pause in the review process, the FATF refers to its statement published in February 2020. Even though the statement doesn't necessarily reflect the current status in Iran and Democratic People's Republic of Korea (DPRK) related to counter money laundering and terrorist financing, the FATF remains in force its Call for Action.

The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. The FATF does not call for the application of enhanced due diligence to be applied to these jurisdictions, but encourages its members to take into account the observations made by the FATF in their risk analysis. This list is often externally referred to as the "grey list".

In response to the COVID-19 crisis, on 28 April 2020, the FATF decided on a pause in the review process for the list of Jurisdictions subject to Increased Monitoring by granting jurisdictions an additional four months for deadlines. However, Iceland and Mongolia requested to maintain their original schedule. As a result, the FATF updated its statement with respect to these two countries only. The remainder of the statement identifying Jurisdictions subject to Increased Monitoring remain unchanged from February 2020.

February 2020

A summary of the issues discussed and decided by the Plenary in February 2020 is available on the FATF website.

At its meeting on 21 February 2020, the FATF made a Public Statement on jurisdictions subject to a FATF call on its members to apply measures. These high-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members to apply enhanced due diligence, and 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 risks emanating from the country. This list is often externally referred to as the “black list”.

High-Risk Jurisdictions subject to a Call for Action: Democratic People's Republic of Korea (DPRK) and Iran.

The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. The FATF does not call for the application of enhanced due diligence to be applied to these jurisdictions, but encourages its members to take into account the observations made by the FATF in their risk analysis. This list is often externally referred to as the "grey list".

New jurisdictions subject to increased monitoring: Albania, Barbados, Jamaica, Mauritius, Myanmar, Nicaragua, Uganda.

Jurisdiction no longer subject to increased monitoring: Trinidad and Tobago.

FATF Plenary and Working Group Meetings 2019

October 2019

At its meeting on 18 October 2019, the FATF made a Public Statement on jurisdictions subject to a FATF call on its members to apply measures.

The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies.

June 2019

At its meeting on 21 June 2019, the FATF made a Public Statement on jurisdictions subject to a FATF call on its members to apply measures.

The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies.

February 2019

At its meeting on 22 February 2019, the FATF made a Public Statement on jurisdictions subject to a FATF call on its members to apply measures.

The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies.

 

The guidelines of the European Supervisory Authorities are available on the FIN-FSA’s website (in Finnish). The website will be updated with any new guidelines issued by the European Supervisory Authorities. The FIN-FSA also issues a supervision release whenever a new guideline is published.

The website of the European Banking Authority (EBA) provides up-to-date and useful information on European projects aimed at preventing money laundering and terrorist financing.

In 2019, the financial supervisory authorities of the Nordic and Baltic countries agreed on measures to strengthen cooperation between the countries with the aim of fighting money laundering and terrorist financing.

The aim is to strengthen the current model for cross-border cooperation on anti-money laundering supervision between the countries.

The authorities of Finland, Sweden, Denmark, Norway, Iceland, Estonia, Latvia and Lithuania have established a permanent working group to maintain regular contact and exchange experiences and information with the goal of being more effective in the prevention of money laundering. Going forward, anti-money laundering supervision will be more coordinated in the Nordic-Baltic region.

A Memorandum of Understanding (MoU) is also being jointly drafted to formalise ongoing and long-term cooperation.