On 8 November, FATF published the 6th follow-up report on Sri Lanka by FATF-style regional body APG. As is normal, the report does not analyse any progress Sri Lanka has made to improve its effectiveness, only its technical compliance with the FATF 40 Recommendations since the 2015 mutual evaluation (MER). Overall, Sri Lanka has made some progress in addressing the technical compliance deficiencies identified in its MER and has been re-rated on Recommendation 32 (re physical cross-border transportation of currency and bearer negotiable instruments). Sri Lanka now has 32 Recommendations rated C/LC and 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. Its 7th progress report is due 1 June 2022.
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