Bulgaria was included this Friday in the “gray list” of countries subject to “reinforced surveillance” by the anti-money laundering organization, the Financial Action Task Force (FATF), while four other countries, from which Panama were eliminated and the Cayman Islands. , according to a press release. Albania and Jordan were also removed from this list.
Bulgaria joins 22 other jurisdictions on the “grey list”. This points out their “strategic deficiencies in their combat regimes” against money laundering, the financing of terrorism and the proliferation of weapons of mass destruction, but also points out that they “actively work” with the organization to remedy them.
More than 200 countries and jurisdictions have committed to implementing FATF standards. The FATF is working with “grey list” countries in their progress to resolve money laundering and terrorist financing issues and “calls on these jurisdictions to complete their action plans promptly and within agreed timelines,” according to documents approved at the end of a plenary meeting. in Paris.
Iran and North Korea on the “black list”
The FATF has not modified its “black list” of countries with “serious strategic deficiencies”, but asks its members, “in the most serious cases, (…) to apply countermeasures to protect the international financial system against money laundering.” money”. , the financing of terrorism and the financing of nuclear proliferation. On this “black list” are North Korea, Iran and Burma.
The FATF, responsible for studying how terrorism is financed and money laundered, develops standards and issues recommendations so that member countries can take the necessary measures to remedy the failures identified by the organization.
Source: BFM TV
