Organisation for Economic Co-operation and Development

Improving Global AML/CFT Compliance: update on-goingprocess
Paris, 22 October 2010 - As part of its ongoing review of compliance with the AML/CFT standards, theFATF has to date identified the following jurisdictions which have strategic AML/CFT deficiencies forwhich they have developed an action plan with the FATF. While the situations differ among eachjurisdiction, each jurisdiction has provided a written high-level political commitment to address theidentified deficiencies. FATF welcomes these commitments.
A large number of jurisdictions have not yet been reviewed by the FATF. The FATF continues to
identify additional jurisdictions, on an ongoing basis, that pose a risk in the international financial
system. The new jurisdictions identified in this document are: Bangladesh, Ghana, Honduras,
Philippines, Tanzania, Venezuela, and Vietnam. The FATF has additionally begun initial reviews of anumber of other jurisdictions as part of this process and will present its findings next year.
The FATF and the FSRBs will continue to work with the jurisdictions noted below and to report on the
progress made in addressing the identified deficiencies. The FATF calls on these jurisdictions tocomplete the implementation of action plans expeditiously and within the proposed timeframes. The
FATF will closely monitor the implementation of these action plans and encourages its members toconsider the information presented below.

AngolaIn June 2010, Angola made a high-level political commitment to work with the FATF to address its
strategic AML/CFT deficiencies. Since June, Angola has taken steps towards improving its AML/CFT
regime, including by enacting an AML/CFT law and ratifying the UN Convention on Transnational
Organised Crime. However, the FATF has determined that certain strategic AML/CFT deficiencies
remain. Angola will work on implementing its action plan to address these deficiencies, including by:(1) adequately criminalising money laundering and terrorist financing (Recommendation 1 and Special
Recommendation II); (2) establishing a fully operational and effectively functioning Financial
Intelligence Unit (Recommendation 26); (3) establishing and implementing an adequate legal
framework for identifying, tracing and freezing terrorist assets (Special Recommendation III); and (4)ratifying the UN Convention for the Suppression of the Financing of Terrorism. The FATF encourages
Angola to address its remaining deficiencies and continue the process of implementing its action plan.

Antigua and Barbuda
In February 2010, Antigua and Barbuda made a high-level political commitment to work with the
FATF and CFATF to address its strategic AML/CFT deficiencies. Since June, Antigua and Barbuda hastaken steps towards improving its AML/CFT regime, including by passing the Cooperative Societies Billframework. However, the FATF has determined that certain strategic AML/CFT deficiencies remain.
Antigua and Barbuda should continue to work on implementing its action plan to address these
deficiencies, including by: (1) implementing an adequate legal framework for identifying and freezing
terrorist assets (Special Recommendation III); (2) continuing to improve the overall supervisory
framework (Recommendation 23); and (3) enhancing financial transparency (Recommendation 4).
The FATF encourages Antigua and Barbuda to address its remaining deficiencies and continue theprocess of implementing its action plan.

Bangladesh
In October 2010, Bangladesh made a high-level political commitment to work with the FATF and APG
to address its strategic AML/CFT deficiencies. Bangladesh has taken steps towards improving its
AML/CFT regime. However, the FATF has determined that certain strategic AML/CFT deficiencies
remain. Bangladesh will work on implementing its action plan to address these deficiencies, includingby: (1) adequately criminalising money laundering and terrorist financing (Recommendation 1 andSpecial Recommendation II); (2) establishing and implementing adequate procedures to identify andfreeze terrorist assets (Special Recommendation III); (3) implementing adequate procedures for theconfiscation of funds related to money laundering (Recommendation 3); (4) ensuring a fully

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operational and effectively functioning Financial Intelligence Unit (Recommendation 26); (5)improving suspicious transaction reporting requirements (Recommendation 13 and Special
Recommendation IV); and (6) improving international cooperation (Recommendations 36 and 39 andSpecial Recommendation V). The FATF encourages Bangladesh to address its remaining deficiencies
and continue the process of implementing its action plan.

Bolivia
In February 2010, Bolivia made a high-level political commitment to work with the FATF and GAFISUD
to address its strategic AML/CFT deficiencies. However, the FATF has determined that certain
strategic deficiencies remain. Bolivia should continue to work on implementing its action plan toaddress these deficiencies, including by: (1) ensuring adequate criminalisation of money laundering g(Recommendation 1); (2) adequately criminalizing terrorist financing (Special Recommendation II);(3) establishing and implementing an adequate legal framework for identifying and freezing terrorist
assets (Special Recommendation III); and (4) establishing a fully operational and effective Financial
Intelligence Unit (Recommendation 26). The FATF encourages Bolivia to address its remaining
deficiencies and continue the process of implementing its action plan.

Ecuador
In June 2010, Ecuador made a high-level political commitment to work with the FATF and GAFISUD toaddress its strategic AML/CFT deficiencies. Since June, Ecuador has taken steps towards improving its
AML/CFT regime, including by tabling a revised AML/CFT law. However, the FATF has determined thatcertain strategic AML/CFT deficiencies remain. Ecuador will work on implementing its action plan toaddress these deficiencies, including by: (1) adequately criminalising money laundering and terrorist
financing (Recommendation 1 and Special Recommendation II); (2) establishing and implementing
adequate procedures to identify and freeze terrorist assets (Special Recommendation III); (3)implementing adequate procedures for the confiscation of funds related to money laundering(Recommendation 3); and (4) reinforcing and improving coordination of financial sector supervision(Recommendation 23). The FATF encourages Ecuador to address its remaining deficiencies andcontinue the process of implementing its action plan.

Ethiopia
In June 2010, Ethiopia made a high-level political commitment to work with the FATF to address its
strategic AML/CFT deficiencies. However, the FATF has determined that certain strategic AML/CFT
deficiencies remain. Ethiopia will work on implementing its action plan to address these deficiencies,
including by: (1) adequately criminalising money laundering and terrorist financing (Recommendation
1 and Special Recommendation II); (2) establishing and implementing an adequate legal framework
and procedures to identify and freeze terrorist assets (Special Recommendation III); (3) ensuring afully operational and effectively functioning Financial Intelligence Unit (Recommendation 26); (4)raising awareness of AML/CFT issues within the law enforcement community (Recommendation 27);
and (5) implementing effective, proportionate and dissuasive sanctions in order to deal with natural or
legal persons that do not comply with the national AML/CFT requirements (Recommendation 17). The
FATF encourages Ethiopia to address its remaining deficiencies and continue the process of
implementing its action plan.

Ghana
In October 2010, Ghana made a high-level political commitment to work with the FATF and GIABA toaddress its strategic AML/CFT deficiencies. Ghana has taken steps towards improving its AML/CFT
regime. However, the FATF has determined that strategic AML/CFT deficiencies remain. Ghana will
work on implementing its action plan to address these deficiencies, including by: (1) adequately
criminalising money laundering and terrorist financing (Recommendation 1 and Special
Recommendation II); (2) establishing and implementing adequate measures for the confiscation offunds related to money laundering (Recommendation 3); (3) establishing effective CDD measures(Recommendation 5); (4) establishing a fully operational and effectively functioning Financial
Intelligence Unit (Recommendation 26); and (5) establishing and implementing adequate procedures
to identify and freeze terrorist assets (Special Recommendation III). The FATF encourages Ghana toaddress its remaining deficiencies and continue the process of implementing its action plan.

GreeceIn February 2010, Greece made a high-level political commitment to work with the FATF to address
its strategic AML/CFT deficiencies. Since June, Greece has taken steps towards improving its AML/CFT
regime, including by taking measures to enhance the effectiveness of the FIU and adopting legislation
to adequately criminalise terrorist financing. However, the FATF has determined that certain strategic
AML/CFT deficiencies remain. Greece should continue to work on implementing its action plan toaddress these deficiencies, including by: (1) improving exisiting mechanisms and procedures for

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freezing terrorist assets under UNSCR 1373 (Special Recommendation III); and (2) further enhancing
the effectiveness of the FIU (Recommendation 26). The FATF encourages Greece to address its
remaining deficiencies and continue the process of implementing its action plan.

Honduras
In October 2010, Honduras made a high-level political commitment to work with the FATF and CFATF
to address its strategic AML/CFT deficiencies. Honduras has taken steps towards improving its
AML/CFT regime. However, the FATF has determined that strategic AML/CFT deficiencies remain.
Honduras will work on implementing its action plan to address these deficiencies, including by: (1)adequately criminalising terrorist financing (Special Recommendation II); (2) establishing andimplementing adequate procedures to identify and freeze terrorist assets (Special Recommendation
III); (3) ensuring a fully operational and effectively functioning Financial Intelligence Unit
(Recommendation 26); and (4) improving and broadening CDD measures (Recommendation 5). The
FATF encourages Honduras to address its remaining deficiencies and continue the process of
implementing its action plan.

Indonesia
In February 2010, Indonesia made a high-level political commitment to work with the FATF and the
APG to address its strategic AML/CFT deficiencies. Since June, Indonesia has taken steps towards
improving its AML/CFT regime, including by approving a new AML law on October 2010. However, theFATF has determined that certain strategic AML/CFT deficiencies remain. Indonesia should continue towork on implementing its action plan to address these deficiencies, including by: (1) adequately
criminalising terrorist financing (Special Recommendation II); (2) ensuring effective criminalisation ofmoney laundering (Recommendation 1); (2) establishing and implementing adequate procedures to
identify and freeze terrorist assets (Special Recommendation III); and (3) amending andimplementing laws or other instruments to fully implementing the 1999 International Convention for
the Suppression of Financing of Terrorism (Special Recommendation I). The FATF encourages
Indonesia to address its remaining deficiencies and continue the process of implementing its action
plan.

Kenya
In February 2010, Kenya made a high-level political commitment to work with the FATF and
ESAAMLG to address its strategic AML/CFT deficiencies. However, the FATF has determined thatcertain strategic AML/CFT deficiencies remain. Kenya should continue to work on implementing its
action plan to address these deficiencies, including by: (1) adequately criminalising terrorist financing(Special Recommendation II); (2) ensuring a fully operational and effectively functioning Financial
Intelligence Unit (Recommendation 26); (3) establishing and implementing an adequate legal
framework for identifying and freezing terrorist assets (Special Recommendation III); (4) raisingawareness of AML/CFT issues within the law enforcement community (Recommendation 27); and (5)implementing effective, proportionate and dissuasive sanctions in order to deal with natural or legal
persons that do not comply with the national AML/CFT requirements (Recommendation 17). The FATF
encourages Kenya to address its remaining deficiencies and continue the process of implementing its
action plan.

MoroccoIn February 2010, Morocco made a high-level political commitment to work with the FATF and
MENAFATF to address its strategic AML/CFT deficiencies. Since June, Morocco has taken steps towards
improving its AML/CFT regime, including by taking initial steps to make the FIU more operational.
However, the FATF has determined that certain strategic AML/CFT deficiencies remain. Morocco
should continue to work on implementing its action plan to address these deficiencies, including by:(1) amending the penal code to extend the scope of the ML and FT offences (Recommendation 1 andSpecial Recommendation II); (2) amending relevant laws or regulations to address deficiencies incustomer due diligence requirements (Recommendation 5); and (3) ensuring a fully operational andeffectively functioning Financial Intelligence Unit (Recommendation 26). The FATF encourages
Morocco to address its remaining deficiencies and continue the process of implementing its action
plan.

Myanmar
In February 2010, Myanmar made a high-level political commitment to work with the FATF and APG
to address its strategic AML/CFT deficiencies. However, the FATF has determined that certain
strategic AML/CFT deficiencies remain. Myanmar should continue to work on implementing its action
plan to address these deficiencies, including by: (1) adequately criminalising money laundering andterrorist financing (Recommendation 1 and Special Recommendation II); (2) establishing andimplementing adequate procedures to identify and freeze terrorist assets (Special Recommendation

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III); (3) strengthening the extradition framework in relation to terrorist financing (Recommendation
35 and Special Recommendation I); (4) ensuring a fully operational and effectively functioning
Financial Intelligence Unit (Recommendation 26); (5) enhancing financial transparency(Recommendation 4); and (6) strengthening customer due diligence measures (Recommendations 5).
The FATF encourages Myanmar to address its remaining deficiencies and continue the process of
implementing its action plan.

Nepal
In February 2010, Nepal made a high-level political commitment to work with the FATF and APG toaddress its strategic AML/CFT deficiencies. Since June, Nepal has taken steps towards improving its
AML/CFT regime, including by tabling draft amendments on money laundering and terrorist financing.
However, the FATF has determined that certain strategic AML/CFT deficiencies remain. Nepal should
continue to work on implementing its action plan to address these deficiencies, including by: (1)adequately criminalising money laundering and terrorist financing (Recommendation 1 and Special
Recommendation II); (2) establishing and implementing adequate procedures to identify and freeze
terrorist assets (Special Recommendation III); (3) implementing adequate procedures for theconfiscation of funds related to money laundering (Recommendation 3); and (4) enacting andimplementing appropriate mutual legal assistance legislation (Recommendation 36). The FATF
encourages Nepal to address its remaining deficiencies and continue the process of implementing its
action plan.

Nigeria
In February 2010, Nigeria made a high-level political commitment to work with the FATF and GIABA
to address its strategic AML/CFT deficiencies. However, the FATF has determined that certain
strategic AML/CFT deficiencies remain. Nigeria should continue to work on implementing its action
plan to address these deficiencies, including by: (1) adequately criminalising money laundering andterrorist financing (Recommendation 1 and Special Recommendation II); (2) implementing adequate
procedures to identify and freeze terrorist assets (Special Recommendation III); (3) ensuring that
relevant laws or regulations address deficiencies in customer due diligence requirements and that they
apply to all financial institutions (Recommendation 5); and (4) demonstrating that AML/CFT
supervision is undertaken effectively across the financial sector (Recommendation 23). The FATF
encourages Nigeria to address its remaining deficiencies and continue the process of implementing its
action plan.

Pakistan
In June 2010, Pakistan made a high-level political commitment to work with the FATF and APG toaddress its strategic AML/CFT deficiencies. Since June, Pakistan has taken steps towards improving its
AML/CFT regime, including by broadening the scope of ML predicate offences. However, the FATF has
determined that certain strategic AML/CFT deficiencies remain. Pakistan will work on implementing its
action plan to address these deficiencies, including by (1) demonstrating adequate criminalisation ofmoney laundering and terrorist financing (Recommendation 1 and Special Recommendation II); (2)demonstrating adequate procedures to identify, freeze and confiscate terrorist assets (Special
Recommendation III); (3) ensuring a fully operational and effectively functioning Financial Intelligence
Unit (Recommendation 26); (4) demonstrating effective regulation of money service providers,
including an appropriate sanctions regime, and increasing the range of ML/FT preventive measures forthese services (Special Recommendation VI); and (5) improving and implementing effective controls
for cross-border cash transactions (Special Recommendation IX). The FATF encourages Pakistan toaddress its remaining deficiencies and continue the process of implementing its action plan.

Paraguay
In February 2010, Paraguay made a high-level political commitment to work with the FATF and
GAFISUD to address its strategic AML/CFT deficiencies. Since June, Paraguay has taken steps towards
improving its AML/CFT regime, including by establishing some fundamental CDD measures. However,the FATF has determined that certain strategic AML/CFT deficiencies remain. Paraguay should
continue to work on implementing its action plan to address these deficiencies, including by: (1)establishing and implementing adequate procedures to identify, freeze and confiscate terrorist assets(Special Recommendation III); (2) improving financial transparency (Recommendation 4); (3)improving and broadening customer due diligence measures (Recommendation 5); and (4)implementing effective controls for cross-border cash transactions (Special Recommendation IX). The
FATF encourages Paraguay to address its remaining deficiencies and continue the process of
implementing its action plan.

Philippines
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APG to address its strategic AML/CFT deficiencies. The Philippines has taken steps towards improving
its AML/CFT regime. However, the FATF has determined that certain strategic AML/CFT deficiencies
remain. The Philippines will work on implementing its action plan to address these deficiencies,
including by: (1) adequately criminalising money laundering and terrorist financing (Recommendation
1 and Special Recommendation II); (2) implementing adequate procedures to identify and freeze
terrorist assets and confiscate funds related to money laundering (Special Recommendation III andRecommendation 3); (3) enhancing financial transparency (Recommendation 4); (4) ensuring capacityand financial resources for competent authorities (Recommendation 30); and (5) establishingeffective CDD measures (Recommendation 5). The FATF encourages the Philippines to address its
remaining deficiencies and continue the process of implementing its action plan.       São Tomé and Príncipe
In October 2010, São Tomé and Príncipe made a high-level political commitment to work with the
FATF and GIABA to address its strategic AML/CFT deficiencies. However, the FATF has determinedthat certain strategic AML/CFT deficiencies remain. São Tomé and Príncipe will work on implementing
its action plan to address these deficiencies, including by: (1) adequately criminalising money
laundering and terrorist financing (Recommendation 1 and Special Recommendation II); (2)establishing a fully operational and effectively functioning Financial Intelligence Unit (Recommendation
26); (3) ensuring that financial institutions and DNFBPs are subject to adequate AML/CFT regulationand supervision, and that competent authority or authorities have been designated to ensurecompliance with AML/CFT requirements (Recommendations 23, 24 and 29); (4) implementing
effective, proportionate and dissuasive sanctions in order to deal with natural or legal persons that do
not comply with the national AML/CFT requirements (Recommendation 17); and (5) taking thenecessary action to gain membership of GIABA. The FATF encourages São Tomé and Príncipe toaddress its remaining deficiencies and continue the process of implementing its action plan.

Sri Lanka
In February 2010, Sri Lanka made a high-level political commitment to work with the FATF and APG
to address its strategic AML/CFT deficiencies. However, the FATF has determined that certain
strategic AML/CFT deficiencies remain. Sri Lanka should continue to work on implementing its action
plan to address these deficiencies, including by: (1) adequately criminalising money laundering andterrorist financing (Recommendation 1 and Special Recommendation II); and (2) establishing andimplementing adequate procedures to identify and freeze terrorist assets (Special Recommendation
III). The FATF encourages Sri Lanka to address its remaining deficiencies and continue the process of
implementing its action plan.

Sudan
In February 2010, Sudan made a high-level political commitment to work with the FATF and
MENAFATF to address its strategic AML/CFT deficiencies. Since June, Sudan has taken steps towards
improving its AML/CFT regime, including by conducting outreach to financial institutions on AML/CFT
obligations and taking initial steps to operationalise the FIU. However, the FATF has determined thatcertain strategic AML/CFT deficiencies remain. Sudan should continue to work on implementing its
action plan to address these deficiencies, including by: (1) implementing adequate procedures for
identifying and freezing terrorist assets (Special Recommendation III); (2) ensuring a fully operationaland effectively functioning Financial Intelligence Unit (Recommendation 26); (3) ensuring financial
institutions are aware of and comply with their obligations to file suspicious transaction reports inrelation to ML and FT (Recommendation 13 and Special Recommendation IV); and (4) implementing a
supervisory programme for the regulators to ensure compliance with the provisions of the new law
and regulations (Recommendation 23). The FATF encourages Sudan to address its remaining
deficiencies and continue the process of implementing its action plan.

Syria
In February 2010, Syria made a high-level political commitment to work with the FATF and MENAFATF
to address its strategic AML/CFT deficiencies. However, the FATF has determined that certain
strategic AML/CFT deficiencies remain. Syria should continue to work on implementing its action plan
to address these deficiencies, including by: (1) adopting adequate measures to implement andenforce the 1999 International Convention for the Suppression of Financing of Terrorism (Special
Recommendation I); (2) adequately criminalising terrorist financing (Special Recommendation II); (3)implementing adequate procedures for identifying and freezing terrorist assets (Special
Recommendation III); (4) ensuring financial institutions are aware of and comply with their
obligations to file suspicious transaction reports in relation to ML and FT (Recommendation 13 andSpecial Recommendation IV) and (5) adopting appropriate laws and procedures to provide mutual
legal assistance (Recommendations 36-38, Special Recommendation V). The FATF encourages Syria
to address its remaining deficiencies and continue the process of implementing its action plan.

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Tanzania
In October 2010, Tanzania made a high-level political commitment to work with the FATF and
ESAAMLG to address its strategic AML/CFT deficiencies. Tanzania has taken steps towards improving
its AML/CFT regime. However, the FATF has determined that certain strategic AML/CFT deficiencies
remain. Tanzania will work on implementing its action plan to address these deficiencies, including by:(1) adequately criminalising money laundering and terrorist financing (Recommendation 1 and Special
Recommendation II); (2) establishing and implementing adequate procedures to identify and freeze
terrorist assets as well as implementing the UNSCR 1267 and 1373 through law, regulations or otherenforceable means (Special Recommendation III); (3) establishing effective CDD measures(Recommendation 5); (4) establishing adequate record-keeping requirements (Recommendation 10);(5) establishing a fully operational and effectively functioning national Financial Intelligence Unit
(Recommendation 26); and (6) designating competent authorities to ensure compliance with AML/CFT
requirements (Recommendation 23). The FATF encourages Tanzania to address its remaining
deficiencies and continue the process of implementing its action plan.

ThailandIn February 2010, Thailand made a high-level political commitment to work with the FATF and APG toaddress its strategic AML/CFT deficiencies. However, the FATF has determined that certain strategic
AML/CFT deficiencies remain. Thailand should continue to work on implementing its action plan toaddress these deficiencies, including by: (1) adequately criminalising terrorist financing (Special
Recommendation II); (2) establishing and implementing adequate procedures to identify and freeze
terrorist assets (Special Recommendation III); and (3) further strengthening AML/CFT supervision(Recommendation 23). The FATF encourages Thailand to address its remaining deficiencies andcontinue the process of implementing its action plan.

Trinidad and Tobago
In February 2010, Trinidad and Tobago made a high-level political commitment to work with the FATF
and CFATF to address its strategic AML/CFT deficiencies. However, the FATF has determined thatcertain strategic AML/CFT deficiencies remain. Trinidad and Tobago should continue to work on
implementing its action plan to address these deficiencies, including by: (1) implementing adequate
procedures to identify and freeze terrorist assets without delay (Special Recommendation III); (2)implementing adequate procedures for the confiscation of funds related to money laundering(Recommendation 3); and (3) establishing a fully operational and effectively functioning FIU, including
supervisory powers (Recommendation 26). The FATF encourages Trinidad and Tobago to address its
remaining deficiencies and continue the process of implementing its action plan.

TurkeyIn February 2010, Turkey made a high-level political commitment to work with the FATF to address
its strategic AML/CFT deficiencies. Since June, Turkey has taken steps towards improving its AML/CFT
regime, including by working on draft CFT legislation. However, the FATF has determined that certain
strategic AML/CFT deficiencies remain. Turkey should continue to work on implementing its action
plan to address these deficiencies, including by: (1) adequately criminalising terrorist financing(Special Recommendation II); and (2) implementing an adequate legal framework for identifying andfreezing terrorist assets (Special Recommendation III). The FATF encourages Turkey to address its
remaining deficiencies and continue the process of implementing its action plan.

Turkmenistan
In June 2010, Turkmenistan made a high-level political commitment to work with the FATF and EAG
to address its strategic AML/CFT deficiencies. Since June, Turkmenistan has taken steps towards
improving its AML/CFT regime, including by holding training workshops to build the capacity of its
FIU. However, the FATF has determined that certain strategic AML/CFT deficiencies remain.
Turkmenistan will work on implementing its action plan to address these deficiencies, including by: (1)addressing the remaining issues with the criminalisation of money laundering and terrorist financing(Recommendation 1 and Special Recommendation II), (2) implementing adequate procedures to
identify and freeze terrorist assets without delay (Special Recommendation III); (3) ensuring a fully
operational and effectively functioning FIU (Recommendation 26), (4) developing collaboration
between the FIU and domestic counterparts, including supervisory authorities, and (5) strengthening
international cooperation. The FATF encourages Turkmenistan to address its remaining deficiencies
and continue the process of implementing its action plan.

UkraineIn February 2010, Ukraine made a high-level political commitment to work with the FATF and
MONEYVAL to address its strategic AML/CFT deficiencies. Since June, Ukraine has taken steps towards

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improving its AML/CFT regime, including by bringing a new AML/CFT law into force. However, theFATF has determined that certain strategic AML/CFT deficiencies remain. Ukraine should continue towork on implementing its action plan to address these deficiencies, including by: (1) addressing
remaining issues regarding criminalisation of money laundering (Recommendation 1); and (2)improving and implementing an adequate legal framework for identifying and freezing terrorist assets(Special Recommendation III). The FATF encourages Ukraine to address its remaining deficiencies andcontinue the process of implementing its action plan.

Venezuela
In October 2010, Venezuela made a high-level political commitment to work with the FATF and CFATF
to address its strategic AML/CFT deficiencies. Venezuela has taken steps towards improving its
AML/CFT regime. However, the FATF has determined that certain strategic deficiencies remain.
Venezuela will work with the FATF and CFATF on implementing its action plan to address these
deficiencies, including by: (1) adequately criminalising terrorist financing (Special RecommendationII); (2) establishing and implementing adequate procedures to identify and freeze terrorist assets(Special Recommendation III); (3) ensuring a fully operational and effectively functioning Financial
Intelligence Unit (Recommendation 26); (4) implementing adequate CDD guidelines for all sectors(Recommendation 5); and (5) establishing adequate STR reporting obligations for ML and TF(Recommendation 13 and Special Recommendation IV). The FATF encourages Venezuela to address
its remaining deficiencies and continue the process of implementing its action plan.

Vietnam
In October 2010, Vietnam made a high-level political commitment to work with the FATF to address
its strategic AML/CFT deficiencies. Vietnam has taken steps towards improving its AML/CFT regime.
However, the FATF has determined that certain strategic AML/CFT deficiencies remain. Vietnam will
work with the FATF and the APG on implementing its action plan to address these deficiencies,
including by: (1) adequately criminalising money laundering and terrorist financing (Recommendation
1 and Special Recommendation II); (2) establishing and implementing adequate procedures to identify
and freeze terrorist assets (Special Recommendation III); (3) improving the overall supervisory
framework (Recommendation 23); (4) improving and broadening customer due diligence measuresand reporting requirements (Recommendation 5, 13, and Special Recommendation IV); and (5)strengthening international cooperation (Recommendations 36, 40). The FATF encourages Vietnam toaddress its remaining deficiencies and continue the process of implementing its action plan.

Yemen
In February 2010, Yemen made a high-level political commitment to work with the FATF and
MENFATF to address its strategic AML/CFT deficiencies. However, the FATF has determined thatcertain strategic deficiencies remain. Yemen should continue to work on implementing its action plan
to address these deficiencies, including by: (1) issue regulations to implement AML law; (2)establishing and implementing adequate procedures to identify and freeze terrorist assets (Special
Recommendation III); (3) issuing substantive guidance/instructions to reporting institutions withrespect to their ML/FT obligations (Recommendation 25); (4) developing the monitoring andsupervisory capacity of the financial sector supervisory authorities and the FIU, to ensure complianceby financial institutions with their STR obligations, especially in relation to FT (Recommendation 23);and (5) ensuring a fully operational and effectively functioning Financial Intelligence Unit
(Recommendation 26). The FATF encourages Yemen to address its remaining deficiencies andcontinue the process of implementing its action plan.
In February 2010, the FATF identified the following jurisdictions as having strategic AML/CFT
deficiencies. Since then, they have substantially addressed the strategic deficiencies identified intheir action plans and will be removed from this FATF monitoring process. The jurisdictions willcontinue to work with their respective FSRBs to improve their AML/CFT regimes.

Qatar
The FATF welcomes Qatar’s significant progress in improving its AML/CFT regime and notes that
Qatar has met its commitments in its Action Plan regarding the strategic AML/CFT deficiencies that
the FATF had identified in February 2010. Qatar is therefore no longer subject to FATF’s monitoringprocess under its ongoing global AML/CFT compliance process. Qatar will work with MENAFATF as it
continues to address the full range of AML/CFT issues identified in its Mutual Evaluation Report, inparticular compliance with Special Recommendation III (adequate procedures to identify and freeze
terrorist assets).

Azerbaijan
The FATF welcomes Azerbaijan’s significant progress in improving its AML/CFT regime and notes that
Azerbaijan has met its commitments in its Action Plan regarding the strategic AML/CFT deficiencies
that the FATF had identified in February 2010. Azerbaijan is therefore no longer subject to FATF’s

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monitoring process under its ongoing global AML/CFT compliance process. Azerbaijan will work with
MONEYVAL as it continues to address the full range of AML/CFT issues identified in its Mutual
Evaluation Report, particularly compliance with SRIII (adequate procedures to identify and freeze
terrorist assets).

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