Treasury has updated on money laundering controls overseas, following the latest Financial Action Task Force (FATF) reports. It deals with:

  • the significant risks that any person covered by the Money Laundering Regulations faces when dealing with Iran or North Korea, and advice to any regulated institution to take current notices into account when dealing with its financial crime prevention systems and controls;
  • the list of countries FATF still has concerns about; and
  • FATF's recent report on Argentina, which identifies serious deficiencies in its regulatory framework.

(Source: Statement on Money Laundering Controls in Overseas Jurisdictions)