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Expected FATF Blacklist Could Mean Compliance Changes for Banks
By Brian Monroe
printA blacklist expected to be published next week by an intergovernmental watchdog group has compliance officers wondering which jurisdictions will be named and what sort of changes it will bring. The Paris-based Financial Action Task Force (FATF) is expected to issue the list during the intergovernmental group's plenary meeting in Abu Dhabi, which runs from Feb.15 through Feb. 19. In September, the Group of 20 urged FATF to publish a list of high-risk and non-cooperative jurisdictions as part of an international effort to crack down on bank secrecy abuse. Unlike the "gray list" maintained by the Organisation for Economic Co-operation...
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