High-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering and terrorist financing.
For all countries identified as high-risk, the FATF-GAFI calls on all members and urges all jurisdictions to apply enhanced due diligence, and, in the most serious cases, countries are called upon to apply counter-measures to protect the international financial system from the money laundering and terrorist financing risks emanating from the country.
This list is often externally referred to as the “black list”.
Since February 2020, in light of the COVID-19 pandemic, the FATF-GAFI has paused the review process for Iran and Democratic People’s Republic of Korea, given that they are already subject to the FATF’s call for countermeasures. Reference is therefore made to the Declaration on these jurisdictions adopted on 21 February 2020.
Although the statement does not necessarily reflect the most recent state of the AML/CFT regimes of Iran and the Democratic People’s Republic of Korea, the FATF-GAFI’s call for countermeasures in these high-risk jurisdictions remains in force.
