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As of 3/1/04, only seven countries remain on the FATF list of non-cooperative countries and territorites which do not meet international standards against money laundering. Transactions originating from an NCCT-listed country can be subjected to heightened scrutiny by banks.

The seven remaining countries designated as NCCTs are:
  • Cook Islands
  • Guatemala
  • Indonesia
  • Myanmar
  • Nauru
  • Nigeria
  • Philippines

Bonus question: Which two countries did FATF announce on 2/27/04 that it had removed from the NCCT list?

Answer: Ukraine and Egypt.

For more information, consult the FATF Web site.

First published on 3/1/04

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