During June 18-24, 2016, XXVII Plenary meeting of the Financial Action Task Force (on Money Laundering) (FATF) took place in Busan, Republic of Korea.

   As a result of Plenary two public documents identifying jurisdictions that may pose a risk to the international financial system were adopted:

   – Jurisdictions with strategic anti-money laundering and combating the financing of terrorism (AML/CFT) deficiencies for which a call for action applies (Iran, North Korea).

   – Jurisdictions with strategic AML/CFT deficiencies for which they have developed an action plan with the FATF (Afghanistan, Bosnia and Herzegovina, Lao People""s Democratic Republic, Guyana, Iraq, Syria, Uganda, Vanuatu, Yemen) .

   In order to implement the UNSCR 2178, FATF Recommendation 5 "The criminal offence of terrorist financing" was revised, by  incorporation to the criminal offence of terrorist financing funding of the travels of individuals who travel to a State other than their States of residence or nationality for the purpose of the perpetration, planning, or preparation of, or participation in, terrorist acts or the providing or receiving of terrorist training.

   Within the framework of continuing counteracting terrorist financing  FATF Recommendation 8"Non-profit organizations" and the Interpretive note to it was revised. Thus, monitoring and prevention of abuse of the non-profit organizations with the purpose of terrorist financing will be conducted on the ground of a risk-based approach and risks assessment executed directly by the country.

   Additional information:

   The FATF on a permanent basis control compliance with it standards. In particular, special attention is paid to countries that are in a high-risk zone in so called "black list" of the FATF.

   Monitoring of Ukrainian national system compliance with international standards of counteracting money laundering and terrorist financing is currently exercised by the Special Committee of Experts of the Council of Europe (an associate member of the FATF).