FATF Acts on Non-Cooperative Countries, Strengthens Cooperation with World Bank Group and Releases New Typologies

On February 27, 2004, the Financial Action Task Force on Money Laundering issued a statement following its Plenary Meeting concerning non-cooperative countries, cooperation with the World Bank Group, and typologies. Due to substantial reforms by the Ukraine and Egypt, FATF has removed both countries from its list of Non-Cooperative Countries and Territories (NCCTs). In line with the past practice, the FATF will continue to monitor closely the ongoing implementation of the anti-money laundering systems in these countries...[more]