FATF Removes 4 and Adds 6 Jurisdictions to the Non-Cooperative List

On June 22, 2001, the Financial Action Task Force on Money Laundering published its twelfth annual report. In addition, the FATF published a review of non-cooperative jurisdictions, in which it removed four jurisdictions that had been on the list and added six more. The report recognizes that the Bahamas, the Cayman Islands, Liechtenstein and Panama, listed as non-cooperative in June 2000, have addressed the previously identified deficiencies through enacting legal reforms and taking concrete steps to implement them. While withdrawing the enhanced scrutiny procedures against such jurisdictions, the FATF will continue to monitor the situation, in consultation with the FATF regional bodies…[more]