The Financial Action Task Force on Money Laundering on Friday announced its latest list of "non-cooperative" jurisdictions. Last week's announcement is an update from the FATF's second report on non-cooperative countries and territories that was released in June.
Before releasing its latest list, the international group reviewed efforts by three nations--Russia, Nauru and the Philippines--to enact significant anti-money laundering legislation by the September 30 deadline.
The Russian government enacted significant legislation during the summer. Although Russia remains on the list of non-cooperative nations, the FATF withdrew its call for members to initiate additional counter-measures against the nation.
Nauru's efforts to enact anti-money laundering legislation were found deficient, while the FATF called on its members to implement additional efforts against the Philippines unless the nation enacts significant legislation by the deadline.
In addition, the FATF added Grenada and the Ukraine to its list of non-cooperative jurisdictions after finding them both to have serious deficiencies in their anti-money
laundering programs, while some nations that had previously been named as non-cooperative were found to still lack satisfactory anti-money laundering controls and reforms.
"With respect to countries listed in June 2000 whose progress in addressing deficiencies has stalled, the FATF will, in due course, consider the adoption of counter-measures," the body said in a statement.
The updated list of non-cooperative jurisdictions includes: Cook Islands; Dominica; Egypt;
Guatemala; Grenada; Hungary; Indonesia; Israel; Lebanon; Marshall Islands; Myanmar; Nauru; Nigeria; Niue; Philippines; Russia; St. Kitts and Nevis; St. Vincent and the Grenadines; and the Ukraine.
During the upcoming year the FATF will continue to review its Forty Recommendations for combating money laundering. Once the review is completed, the international body will undertake a third round of evaluations comparing its members' anti-money laundering systems against the revised recommendations.