HM Treasury has published a statement concerning the risks posed by unsatisfactory money laundering controls in a number of jurisdictions.
In Part A of the statement the Treasury refers to the public statement of the Financial Action Task Force (FATF) dated 18 February 2010 which draws attention to serious deficiencies in Iran, Angola, the Democratic People's Republic of Korea, Ecuador, Ethiopia, Pakistan, Turkmenistan and São Tomé and Príncipe. The Treasury states that the UK fully supports the work of FATF on these matters and it agrees with the FATF's assessment in these jurisdictions.
In Part B of the statement the Treasury notes that FATF has also drawn attention to the deficiencies in the anti-money laundering and counter terrorist finance (AML/CTF) regimes in: Antigua and Barbuda, Azerbaijan, Bolivia, Greece, Indonesia, Kenya, Morocco, Myanmar, Nepal, Nigeria, Paraguay, Qatar, Sri Lanka, Sudan, Syria, Trinidad and Tobago, Thailand, Turkey, Ukraine and Yemen. The Treasury states that the attention of UK financial institutions and other persons regulated for money-laundering purposes should be drawn to the FATF statements for each of these jurisdictions. They should take this advice into account in respect of their systems and controls to counter financial crime.
View Statement on money laundering controls in overseas jurisdictions, 15 March 2010