Sri Lanka, Ethiopia, Tunisia Are No Longer Subject To FATF’s Monitoring Process – Here’s What It Means

FATF Removes Sri Lanka, Ethiopia, Tunisia From Its Monitoring Process – What Does It Mean?  Sri Lanka, Ethiopia, Tunisia Are No Longer Subject To FATF’s Monitoring Process – Here’s What It Means fatf
FATF Removes Sri Lanka, Ethiopia, Tunisia From Its Monitoring Process – What Does It Mean?

Intergovernmental organization Financial Action Task Force (FATF) has removed Sri Lanka from the list of nations at risk for Money Laundering.

The FATF said, it welcomes Sri Lanka’s significant progress in improving its AML/CFT regime and notes that Sri Lanka has strengthened the effectiveness of its AML/CFT regime and addressed related technical deficiencies to meet the commitments in its action plan regarding the strategic deficiencies that the FATF identified in November 2017.

Sri Lanka is therefore no longer subject to the FATF’s monitoring process under its ongoing global AML/CFT compliance process, it said.

Sri Lanka will continue to work with APG to improve further its AML/CFT regime, it added.

The FATF said, it welcomes Ethiopia’s significant progress in improving its AML/CFT regime and notes that Ethiopia has strengthened the effectiveness of its AML/CFT regime and addressed related technical deficiencies to meet the commitments in its action plan regarding the strategic deficiencies that the FATF identified in February 2017.

Ethiopia is therefore no longer subject to the FATF’s monitoring process under its ongoing global AML/CFT compliance process, it said.

Ethiopia will continue to work with ESAAMLG to improve further its AML/CFT regime, it added.

When it comes to Tunisia’s progress, the FATF said, it welcomes Tunisia’s significant progress in improving its AML/CFT regime and notes that Tunisia has strengthened the effectiveness of its AML/CFT regime and addressed related technical deficiencies to meet the commitments in its action plan regarding the strategic deficiencies that the FATF identified in November 2017.

Tunisia is therefore no longer subject to the FATF’s monitoring process under its ongoing global AML/CFT compliance process, the FATF said.

It further said that Tunisia will continue to work with MENAFATF to improve further its AML/CFT regime.

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