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

News Releases

7/6/2004 USA PATRIOT Act Monitor News Release: Fifth Annual Review of Non-Cooperative Countries or Territories Released by FATF, Guatemala Dropped From List
Guatemala has been removed from the FATF list of NCCTs since the agency has determined that Guatemala "has now sufficiently addressed the deficiencies identified by the FATF through enactment and implementation of appropriate legal reforms." The U.S. State Department's website regarding Money Laundering and Financial Crimes continues to list the country as of money-laundering concern, being a transit point for the Colombian drug trade, also a location where kidnappers, corrupt public officials, and smugglers can find a safe haven for illicit profits. With Guatemala off the FATF's NCCT list, only six countries remain:

1. Cook Islands
2. Indonesia
3. Myanmar
4. Nauru
5. Nigeria
6. Philippines

The FATF's actions at its recent plenary session will be reviewed in the July issue of the Monitor

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).

<< News Releases Main Page