Kenya is a member of ESAAMLG. For more information about the assessment of the implementation of anti-money laundering and counter-terrorist financing (AML/CFT) measures in Kenya, please consult the ESAAMLG website (www.esaamlg.org):
Is Kenya a FATF country?
According to that Evaluation, Kenya was deemed Compliant for 1 and Largely Compliant for 24 of the FATF 40 + 9 Recommendations. Kenya is categorised by the US State Department as a Country/Jurisdiction of Primary Concern in respect of Money Laundering and Financial Crimes.
Which countries are in FATF blacklist?
As of 21 February 2020, only two countries were on the FATF blacklist: North Korea and Iran.
Current FATF greylist.
|Greylisted Country||See also|
|Mauritius||Financial services in Mauritius|
|Myanmar (Burma)||Economy of Myanmar|
|Nicaragua||Economy of Nicaragua|
What is GREY list of FATF?
When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. This list is often externally referred to as the “grey list”.
How many FATF lists are there?
FATF has 2 types of lists: a.
Is USA a FATF country?
The United States has been in an enhanced follow-up process following the adoption of its mutual evaluation in 2016. In line with the FATF Procedures for mutual evaluations, the country has reported back to the FATF on the actions it has taken since then.
Is Pakistan blacklisted?
Prime Minister Imran Khan-led government has been under pressure to save Pakistan from being blacklisted over terror financing and money laundering. … Pakistan has been on the FATF grey list since June 2018 over issues related to terrorism financing.
What happens if Pakistan is blacklisted?
ISLAMABAD: Pakistan’s Prime Minister Imran Khan has warned that if Pakistan is blacklisted at the FATF or Financial Action Task Force then Pakistan’s economy will be destroyed due to inflation and a massive fall in Pakistani Rupee. … Once we are on the blacklist, our entire economy will be destroyed due to inflation.”
What happens if FATF blacklists a country?
It is extremely likely that blacklisted countries will be subject to economic sanctions and other prohibitive measures by FATF member states and other international organizations. … While it has no direct investigatory powers, the FATF monitors global AML/CFT regimes closely to inform the content of its blacklists.
What happens when a country is blacklisted?
In the most serious cases, countries are called upon to take countermeasures to protect the international financial system from continuing. This is also called FATF AML deficient list. A blacklisted country may be subject to economic sanctions by a member of FATF.
Is Pakistan is in GREY list?
Pakistan was placed on the “Grey List” by the FATF in June 2018 and was given a plan of action to be completed by October 2019. Since then the country continues to be on that list due to its failure to comply with the FATF mandates. … India is a member of the FATF consultations and its Asia Pacific Group.
Is Pakistan still in GREY list?
In the last plenary held in October 2020, the FATF had concluded that Pakistan will continue in its grey list till February 2021 as it has failed to fulfil six out of 27 obligations of the global money laundering and terrorist financing watchdog that include failure to take action against two ofIndia’s most wanted …
Which country has the most money laundering?
According to the Basel anti-money laundering index, the top 10 countries currently facing the greatest risk of money laundering are4:
- Myanmar (7.93)
- Afghanistan (7.76)
- Liberia (7.35)
- Haiti (7.34)
- Kenya (7.33)
- Vietnam (7.30)
- Benin (7.27)
- Sierra Leone (7.20)
What is the difference between blacklist and Greylist?
The difference between Blacklist and Greylist
When used as nouns, blacklist means a list or set of people or entities to be shunned or banned, whereas greylist means a list, resembling a blacklist, for less serious offences.
Is China a member of FATF?
It remains partially compliant on 9 of the 40 Recommendations and not compliant on 6 of them. China remains in enhanced follow-up and will report back to the FATF on progress to strengthen its implementation of Anti-Money Laundering / Countering the Financing of Terrorism measures in October 2021.
Is Ghana blacklisted?
EU Anti-Money Laundering Blacklist Comes With No Ban – EU Ambassador. … “Ghana was indeed placed on the list of high-risk countries by the European Union in May but has entered into force this October. What that simply means is that Ghana is not doing enough to fight against money laundering and terrorist financing.