06/03/2019
Financial Action (hereinafter referred to as "FATF") (FATF is an inter-governmental organization that development of international standards on combating money laundering and terrorist financing are) at February 22, 2019 published the following documents:
(1) a public statement - about the Democratic People's Republic (hereinafter referred to as "North Korea") and Iran (English only)
(i) North Korea
North Korea failed to deal with the FATF to combat money laundering and terrorist financing significant deficiency in the system, as well as a serious threat to the soundness of this situation for the international financial system posed, remains concerned. In addition, the FATF to North Korea about the threat of mass destruction and illegal fund-raising activities posed by the proliferation of weapons, expressed serious concern.
FATF reiterated its call for members of the February 25, 2011, urges all jurisdictions to advise their financial institutions to pay special attention to the DPRK (North Korea, including corporations, financial institutions and individuals on behalf of such companies and financial institutions to act) of business relationships and transactions between, so the department made the appeal for you now. For details, please refer to public statements .
(ii) Iran
Iran's action plan has not been completed, the FATF expressed disappointment and expect Iran to comprehensively address the remaining issues under, including: (i) substantially the financing of terrorism a criminal offense; (ii) to identify and freeze terrorist molecular assets; (iii) ensure that adequate and enforceable customer due diligence system; and (iv) ensure that financial institutions verify wire transfers contain complete information on the sender and the beneficiary.
FATF call on its members and urges all jurisdictions to advise their financial institutions to continue business relationships and transactions with natural and legal persons from Iran, to take more stringent due diligence measures (including reasons for the transaction to obtain the relevant contemplated information, conduct business relations on a more rigorous supervision: increased monitoring frequency and duration required further review and selection of trading patterns), and therefore the department made the appeal for you now. For details, please refer to public statements .
(2) improve the situation on the global fight against money laundering and terrorist financing compliance raise the standard (English only)
In order to continue to review the situation concerning compliance with combating money laundering / terrorist financing standards, the FATF identified 12 jurisdictions (Bahamas, Botswana, Cambodia, Ethiopia, Ghana, Pakistan, Serbia, Sri Lanka, Syria, Trinidad and the island of Tobago, Tunisia and Yemen).
FATF urges its members to reference "in the February 22, 2019 issued on the global fight against money laundering and terrorist financing compliance raised to improve the standard of the situation " (in English only) information referred to. The document lists the high-level political commitment to the jurisdiction to solve the above problem of lack of strategic offered, including (i) shall ensure that adequate timely, accurate and up to date basic and beneficial ownership information; (ii ) shall ensure the implementation and terrorist financing and proliferation of weapons of mass destruction-related funding targeted financial sanctions without delay; (iii) shall be established to identify and freeze terrorist assets program; and (iv) the need to improve customer due diligence review and reporting of suspicious transactions provisions.
Trust or company service provider licensees must comply with to combat money laundering and terrorist financing provisions. Therefore, please note the FATF attention and observation in the above-mentioned document made.
