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

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2/27/04 USA PATRIOT Act Monitor News Release: Ukraine and Egypt off FATF's NCCT List

Ukraine and Egypt Removed from Non-Cooperative Countries and Territories List
This morning (February 27, 2004), the Financial Action Task Force announced that it has removed the Ukraine and Egypt from the list of Non-Cooperative Countries and Territories. The FATF found sufficient evidence that the countries were taking "substantive action to clean up their financial systems" to justify their de-listing. Myanmar and Nauru remain on the list, not having made sufficient progress. Gautamala, also still on the list, was nevertheless praised for bringing its offshore banks under the country's supervisory framework. This and other developments announced at the plenary session of the FATF will be discussed in detail in the March issue of the Monitor to be posted at http://www.civicresearchinstitute.com/moneylaundering.

The USA PATRIOT Act Monitor and the news releases prepared by the Monitor staff are services of the Civic Research Institute, publisher of Money Laundering, Terrorism, and Financial Institutions, by Raymond Banoun and John Ensminger. Contact and subscription information may be obtained at http://www.civicresearchinstitute.com/moneylaundering or by calling the Civic Research Institute at 609-683-4450 (fax: 609-683-7291).

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