Is Cayman Islands an equivalent Jurisdiction?

In August 2020, the Cayman Islands Monetary Authority (CIMA) canceled the “equivalent jurisdictions” list. It transferred the responsibility for and the discretion regarding classifying the risk level of the home countries of investors in Cayman Islands investment funds to the funds’ administrators.

How many countries are members of FATF?

39 members
Which jurisdictions are members of the FATF? There are currently 39 members of the FATF; 37 jurisdictions and 2 regional organisations (the Gulf Cooperation Council and the European Commission). These 39 Members are at the core of global efforts to combat money laundering and terrorist financing.

Which countries require enhanced due diligence?

The high-risk third countries are:

• Albania.
• Barbados.
• Botswana.
• Burkina Faso.
• Cambodia.
• Cayman Islands.
• Democratic People’s Republic of Korea (DPRK)
• Ghana.

Which countries are in FATF?

In North America, FATF countries include Canada, the United States, and Mexico. In Europe, Austria, Belgium, Denmark, Finland, Germany, France, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Spain, Portugal, Switzerland, Sweden, and the United Kingdom are included within FATF.

Is Bermuda an equivalent jurisdiction?

Bermuda has been granted equivalent status under the Solvency II directive, besides being approved as a qualified jurisdiction by the US National Association of Insurance commissioners.In the current socio-economic climate, one could be forgiven for thinking that international businesses use offshore jurisdictions to …

Is Gibraltar an equivalent jurisdiction?

Gibraltar’s product is equivalent, and in some cases better than, most of the funds in other jurisdictions, while in some areas – such as property funds – the Rock enjoys a considerable advantage.

Is India part of FATF?

India became an Observer at FATF in 2006. Since then, it had been working towards full-fledged membership. On June 25, 2010 India was taken in as the 34th country member of FATF. FATF’s role in combating terror financing became prominent after the 9/11 terror attacks in the US.

Is China a FATF member?

China remains in enhanced follow-up and will report back to the FATF on progress to strengthen its implementation of Anti-Money Laundering / Countering the Financing of Terrorism measures in October 2021.

What countries are high risk jurisdictions?

High-risk jurisdictions’ anti-money laundering, anti-terrorism funding, and anti-proliferation financing regimes have significant strategic deficiencies….High-Risk Jurisdictions under “Increased Monitoring”

Albania	Myanmar
Botswana	Pakistan
Burkina Faso	Panama
Cambodia	Senegal
Cayman Islands	Syria

How many countries are currently identified by FATF as being high risk and other monitored jurisdictions?

80 countries
Topic: High-risk and other monitored jurisdictions As of October 2018, the FATF has reviewed over 80 countries and publicly identified 68 of them.

Is India in grey list?

As of 2019, FATF has blacklisted North Korea and Iran over terror financing. Twelve countries are in the grey list, namely: Bahamas, Botswana, Cambodia, Ethiopia, Ghana, Pakistan, Panama, Sri Lanka, Syria, Trinidad and Tobago, Tunisia and Yemen.

What does GREY list country mean?

Grey listing means FATF has placed a country under increased monitoring to check its progress on measures against money laundering and terrorism financing. The “grey list” is also known as the “increased monitoring list”.

Is UAE in GREY list of FATF?

On 4 March, global financial crime watchdog the Financial Action Task Force (FATF) placed the UAE on its list of jurisdictions under increased monitoring, also known as its grey list.

Is Switzerland a FATF country?

Compliance with FATF Recommendations According to that Evaluation, Switzerland was deemed Compliant for 8 and Largely Compliant for 27 of the FATF 40 Recommendations. It was also deemed Highly Effective for 0 and Substantially Effective for 7 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.

Is Pakistan in GREY list?

The Paris-based watchdog had included Pakistan in its “Grey List” — a list of countries that have strategic deficiencies in their regimes to counter money laundering, terror financing and proliferation financing, but which have formally committed to working with the task force to make changes under increased …

What is GREY list?

The “grey list” is composed of countries with a high risk of money laundering and terrorism financing but which have formally committed to working with the task force to make changes.

Is UK on the red list?

There are currently no red list restrictions in place for travel to England.

Which countries have not accepted FATF?

As of 21 February 2020, only two countries were on the FATF blacklist: North Korea, Iran and Uganda. The FATF has been characterized as effective in shifting laws and regulations to combat illicit financial flows.

Which country was removed recently from FATF blacklist?

Ghana
Ghana: Like the Bahamas, Ghana was added to the greylist in 2018. After it completed its strategic action plan, FATF determined that Ghana had made sufficient AML/CFT progress, and removed it from the greylist in 2021.

Is Pakistan member of FATF?

FATF & Pakistan Pakistan has been in the FATF grey list since June 2018 and has been asked to implement the FATF Action Plan fully by September 2019.

How are legislatures listed in the list of sovereign states?

All entities included in the list of sovereign states are included in this list. The legislatures are listed with their names in English and the name in the (most-used) native language of the country (or the official name in the second-most used native language in cases where English is the majority “native” language)

How many countries get 100% on the world’s most equal test?

Each country was scored and ranked, with a score of 100 indicating the most equal. Only six were given full marks. Research found that, globally, average scores had risen from 70 to 75.

Are women’s legal rights equal in every country?

It found that, a decade ago, no country gave women and men equal legal rights. The index assessed eight indicators that influence economic decisions women make during their working lives – from freedom of movement to getting a pension – tracking legal blocks to either employment or entrepreneurship.

Which countries are best for Women’s equality?

Half the changes were related to work and marriage. Photograph: Alamy If you’re a woman and want to be on an equal footing with men, it’s best to live and work in Belgium, Denmark, France, Latvia, Luxembourg or Sweden.