Money Laundering, Terrorism and Financial Institutions - USA Patriot Act Monitor

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2/14/2005 USA PATRIOT Act Monitor News Release: Cook Islands, Indonesia, and the Philippines Removed from NCCT List

Having sent teams to the Cook Islands, Indonesia and the Philippines to check up on their anti-money laundering programs, the Financial Action Task Force announced that it has taken these three jurisdictions off its list of Non-Cooperative Countries and Territories. Each country has established a financial intelligence unit (FIU), and each requires customer identification and suspicious activity reporting. Prior to the removal of these jurisdictions, the list also included Myanmar, Nauru, and Nigeria, which remain on the list. Other developments from the FATF meeting in Paris on February 9-11 will be discussed in the March issue of the Monitor.

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