The Financial Action Task Force (FATF), the global group that sets international anti-money laundering, counter-terrorism financing and counter-proliferation financing (AML/CTF/CPF) standards, has published two recent updates relating to international money laundering, terrorism financing and proliferation financing (ML/TF/PF) risk.

The reports provide an update on jurisdictions which may pose a risk to the international financial system:

• High-Risk Jurisdictions subject to a Call for Action – February 2025: which notes that the 21 February 2020 call for action in relation to the Democratic People’s Republic of Korea, Iran and Myanmar remains in effect.
• Jurisdictions under Increased Monitoring – February 2025: which lists jurisdictions that have strategic deficiencies in their AML/CTF/CPF regimes and are actively working with the FATF to address them.

Reporting entities should be aware of countries that pose a higher risk of ML/TF and use this information to help guide ML/TF risk assessments, compliance programs and decisions about submitting suspicious matter reports to AUSTRAC.

For further information, see AUSTRAC’s guidance on high-risk countries, regions and groups.