The Financial Action Task Force (FATF) updated its list of countries it considers to have strategic AML deficiencies.
FATF calls on countries to have countermeasures against Iran and North Korea.
FATF identified Myanmar (Burma) and Algeria as having strategic deficiencies and not making substantial progress to correct those deficiencies. Ecuador has been removed from this list.
Countries that have deficiencies but also submitted an action plan to address those deficiencies include Afghanistan, Angola, Bosnia & Herzegovina, Ecuador, Guyana, Iraq, Lao PDR, Panama, Papua New Guinea, Sudan, Syria, Uganda, and Yemen. Indonesia has been removed from this list, and Ecuador and Bosnia & Herzegovina are new additions.
FinCEN’s accompanying advisory can be found here.