Uganda, the UAE, Barbados and Gibraltar have all been excluded from the list of redtaped countries after the latest FATF preliminary meeting concluded that they have fixed all AML deficiencies within the agreed timeframes.
The Action Plan that the group of four was assigned to followed extensive evaluations that put them under increased monitoring by FATF. After an on-site visit to each of the countries, the regulator has decided to stop subjecting them to the process, given that they continue to strengthen their AML/CFT regimes.
The plenary session also concluded with a new risk-based guidance for the implementation of Recommendation 25 on the beneficial ownership and transparency of legal arrangements – seeking to prevent global crime syndicates from using legal pathways to launder money.
In this sense, an agreement was also made to la..
