Financial Action Task Force  Groupe d’action financière

FATF Statement
16 October 2008
IRANThe FATF welcomes Iran’s recent engagement with the international community on antimoney laundering, notes the initial steps taken towards remedying the deficiencies inthis area, and urges Iran to address the remaining weaknesses.
The FATF is particularly concerned that the lack of corresponding effort by Iran toaddress the risk of terrorist financing continues to pose a serious threat to the integrity of
the international financial system. Urgent action to address this vulnerability isnecessary.
The FATF calls on its members, and urges all jurisdictions, to strengthen preventive
measures to protect their financial sectors from this risk.
The FATF is prepared to engage directly in assisting Iran in decisively addressing theweaknesses in its AML/CFT regime.
UZBEKISTANThe FATF takes note of the action plan prepared by Uzbekistan to address deficiencies
in its AML/CFT regime.
The FATF is increasingly concerned that the continuing failure by Uzbekistan to restore
its AML/CFT regime poses a serious threat to the integrity of the international financialsystem. Urgent action to address this vulnerability and to meet international standards isnecessary.
The FATF calls on its members, and urges all jurisdictions, to strengthen preventive
measures to protect their financial sectors from this risk.
The FATF, along with the Eurasian Group, is prepared to engage directly in assisting
Uzbekistan in developing a robust AML/CFT regime.
TURKMENISTANThe FATF notes Turkmenistan’s efforts towards adopting AML legislation. However,financial institutions should be aware that the lack of an AML/CFT regime in
Turkmenistan constitutes a money laundering/terrorist financing vulnerability in theinternational financial system. Turkmenistan is urged to continue its efforts to establish a1

comprehensive AML/CFT regime that meets international AML/CFT standards and towork closely with the Eurasian Group and the International Monetary Fund to achieve
this.
PAKISTAN AND SÃO TOMÉ AND PRÍNCIPEThe FATF reaffirms its public statement of 28 February 2008 regarding the money
laundering and financing of terrorism risks posed by Pakistan and São Tome andPrincipe.
AML/CFT IMPROVEMENTS IN THE NORTHERN PART OF CYPRUS
The FATF welcomes the significant progress made in the northern part of Cyprus andnotes that the northern part of Cyprus has substantially addressed the AML/CFTdeficiencies that the FATF had identified. FATF encourages the northern part of Cyprus
to continue to improve its AML/CFT system. Implementation will be monitored throughappropriate mechanisms.

2Notes:1.

For further information, journalists are invited to contact Helen Fisher, OECD Media
Relations, (Tel: +33 1 45 24 80 97 or helen.fisher@oecd.org) or the FATF Secretariat, 2, rue
André-Pascal, 75775 Paris Cedex 16 (tel: +33 1 45 24 79 45, fax: +33 1 44 30 61 37, email:contact@fatf-gafi.org).

2.

The FATF1 is an inter-governmental body whose purpose is the development and promotionof policies, both at national and international levels, to combat money laundering andterrorist financing. The FATF Secretariat is housed at the OECD.

3.

The thirty-four members of the FATF are: Argentina; Australia; Austria; Belgium; Brazil;
Canada; China; Denmark; the European Commission; Finland; France; Germany; Greece;
the Gulf Co-operation Council; Hong Kong, China; Iceland; Ireland; Italy; Japan;
Luxembourg; Mexico; the Kingdom of the Netherlands; New Zealand; Norway; Portugal; theRussian Federation; Singapore; South Africa; Spain; Sweden; Switzerland; Turkey; theUnited Kingdom; and the United States.

4.

India and the Republic of Korea are observer countries. The Asia Pacific Group on Money
2Laundering (APG) , the Caribbean Financial Action Task Force (CFATF) 3, the Grupo de
4
Acción Financiera de Sudamérica (GAFISUD) , the Middle East and North Africa Financial
5Action Task Force (MENAFATF) and the Council of Europe Committee of Experts on theEvaluationofAnti-Money
Laundering
MeasuresandtheFinancingof6Terrorism (MONEYVAL) are Associate Members.

5.

The global network that is committed to combating money laundering and terrorist financing
also includes three other regional bodies: the Eastern and South African Anti Money
Laundering Group (ESAAMLG)7, the Eurasian Group on Combating Money Laundering andFinancing of Terrorism (EAG)8 and the Groupe Inter-gouvernemental d’Action Contre leBlanchiment en Afrique (GIABA) 9. The Offshore Group of Banking Supervisors (OGBS) 10 isa part of this network as well.

1

www.fatf-gafi.org

2

www.apgml.org

3

www.cfatf.org

4

www.gafisud.org

5

www.menafatf.org

6

www.coe.int/moneyval

7

www.esaamlg.org

8

www.eurasiangroup.org

9

www.giaba-westafrica.org

10

www.ogbs.net

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