Clifford Chance

And Now There Are Three: The Financial Action Task Force Adds Myanmar To Its "Blacklist" Of High-Risk Jurisdictions

November 7, 2022

On October 21, 2022, the Financial Action Task Force elevated Myanmar to its short list of high-risk countries having "significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation," joining Iran and North Korea, often referred to as the "blacklist."  In doing so, FATF urges all jurisdictions to apply enhanced due diligence on transactions involving Myanmar.

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