The OECD has revised its list of countries and territories that
do not co-operate with its efforts to combat money laundering.
Financial institutions are warned to exercise extreme caution when
dealing with people, banks or companies based in the Cook Islands,
Egypt, Guatemala, Indonesia, Myanmar, Nauru, Nigeria, Philippines,
St. Vincent and the Grenadines, and the Ukraine.
As a result of the implementation of significant reforms to its anti-money laundering system, Grenada has been removed removed from the OECD's Financial Action Task Force (FATF) list of Non-Cooperative Countries and Territories (NCCTs).
The Ukraine is in the process of implementing its anti-laundering legislation, which should see it dropped from the black list.
Further information about the FATF, its efforts to combat terrorist financing can be found at:
www.fatf-gafi.org
