FATF: FOLLOW-UP REPORT TO SRI LANKA’S ASSESSMENT OF AML/CFT MEASURES

On 22 December, FATF published this report from FATF-style regional body which examines the actions Sri Lanka has undertaken to address weaknesses identified in its 2015 review and to meet the requirements of FATF Recommendations that have changed since their 2015 mutual evaluation.  To reflect the actions they have taken, Sri Lanka’s technical compliance on Recommendations 14 and 15 has been re-rated:

  1. Recommendation 14 is upgraded from non-compliant to largely compliant
  2. Sri Lanka is re-rated to partially compliant with Recommendation 15 as there are moderate deficiencies with Sri Lanka’s implementation of R. 15

Sri Lanka will remain in enhanced follow-up, and will continue to report back to the APG on progress to strengthen its implementation of AML/CFT measures.

www.fatf-gafi.org/publications/mutualevaluations/documents/fur-sri-lanka-2020.html

I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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