The Financial Action Task Force (FATF) has updated its list of countries with strategic compliance deficiencies and has also published a report on the AML risks of virtual currencies and confirmed that its fourth round of country evaluations has begun. Following its recent plenary meeting in Paris the global AML standard setter said it was concerned about Japan's continued failure to remedy the numerous and serious deficiencies identified in October 2008. These include the country's failure to completely criminalise money laundering, the lack of satisfactory customer due diligence requirements applicable to financial and non-financial sectors, and the incomplete mechanism for the freezing of terrorist assets. FATF called for Japan to 'promptly' address these deficiencies through the adoption of new legislation and said it would continue to monitor the country's progress. FATF also updated its list of countries that have made commitments to improve their AML failings; the so-called
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