FATF Decides Not to Revise Non-Cooperative Country List

On February 1, 2001, during a presentation of its annual report the Financial Action Task Force announced it was “not yet satisfied” that any of the15 jurisdictions cited for noncooperation in the FATF report in June 2000 had sufficiently rectified the gaps to be taken off the list. The FATF said that seven jurisdictions on the list – the Bahamas, the Cayman Islands, the Cook Islands, Israel, Liechtenstein, the Marshall Islands and Panama – “have enacted most, if not all legislation needed to remedy the deficiencies identified in June 2000.” The FATF said four jurisdictions – Dominica, Niue, St. Kitts and Nevis and St. Vincent and the Grenadines – “have taken concrete steps to enact legislation and regulations.” even though “a number of deficiencies still remain”…[more]