The Financial Action Task Force updated its list of high-risk jurisdictions subject to a call for action, maintaining its call for countermeasures against the Democratic People's Republic of Korea and Iran and its call for enhanced due diligence on Myanmar. The update stresses heightened proliferation financing risks and confirms that, for the listed jurisdictions, members and other jurisdictions should apply stronger protective measures to address material anti-money laundering and counterterrorist financing deficiencies. For the Democratic People's Republic of Korea, the FATF said longstanding AML/CFT deficiencies and illicit activity linked to weapons of mass destruction financing continue to warrant countermeasures, including terminating correspondent relationships with DPRK banks, closing their branches or subsidiaries, and limiting business relationships and financial transactions with DPRK persons. It added that the DPRK's increased connectivity with the international financial system raises proliferation financing risks and requires stronger enforcement. For Iran, the FATF acknowledged renewed engagement and a January 2026 update on ratification of the Palermo Convention and the Terrorist Financing Convention, but said Iran's reservations are overly broad, domestic compliance is not aligned with FATF standards, and most of its action plan remains unresolved. It therefore reiterated effective countermeasures, including restrictions on branches, representative offices, correspondent relationships and risk-based limits on financial and virtual asset transactions, while stating that humanitarian, food, health, diplomatic and personal remittance flows should be handled appropriately on a risk basis. Myanmar remains subject to enhanced due diligence rather than countermeasures. The FATF said Myanmar had improved its use of financial intelligence, transnational money laundering investigations and asset freezing and confiscation, but still needs to strengthen financial intelligence unit analysis and ensure money laundering cases are investigated and prosecuted in line with risks. It also flagged extensive fraud and cyber scam activity as a major illicit finance risk. If no further progress is made by October 2026, the FATF said it will consider countermeasures, while cautioning that enhanced due diligence should not unduly disrupt humanitarian assistance, legitimate non-profit activity and remittances.
Financial Action Task Force2026-06-19
Financial Action Task Force reiterates countermeasures on DPRK and Iran and keeps Myanmar under enhanced due diligence
The Financial Action Task Force kept the Democratic People's Republic of Korea and Iran on its call-for-action list for countermeasures and maintained Myanmar under enhanced due diligence. It linked the stance on DPRK and Iran to unresolved AML/CFT deficiencies and proliferation financing risks, while saying Myanmar has made some progress but still faces possible countermeasures if it does not improve by October 2026. The update also says humanitarian and other legitimate financial flows should be handled on a risk basis.