FATF blacklists 8 countries
On February 19, the US Treasury Department said in a statement that a global anti-corruption body has blacklisted 8 countries for alleged money laundering and terrorism financing as well as stepped up calls for sanctions against Iran.
The Treasury Department welcomed the FATF statements noting: “We also welcome FATF’s renewed call today for its members and all jurisdictions to apply effective counter-measures to protect their financial sectors from the money laundering and terrorist financing risks emanating from Iran.”
The Financial Action Task Force (FATF) has identified 8 countries that have strategic deficiencies in alleged money laundering and terrorism financing. This inter-governmental body named Iran, Pakistan, Angola, Ecuador, Ethiopia, North Korea, Turkmenistan, and Sao Tome and Principe as they may be posing a risk to the international financial system.