Guatemala removed from money laundering blacklist

Guatemala removed from money laundering blacklist

Reuters
Paris

The international body leading a campaign against money
laundering said on Friday it had removed Guatemala from its
blacklist of countries not taking adequate measures against dirty
money.

Indonesia, the Philippines and Nigeria remained on the
blacklist, the Financial Action Task Force (FATF), a watchdog
sponsored by the Group of Seven (G7) industrialized nations, said
in a statement.

The Cook Islands, Myanmar and Nauru also stayed on the list of
Non-Cooperative Countries and Territories (NCCTs).

"Guatemala has worked with FATF representatives to achieve a
positive result, and the FATF will continue to monitor
Guatemala's progress," FATF President Claes Norgren said in the
statement.

Being blacklisted by the Paris-based FATF, whose 30 member
countries are mostly Western states, can damage a country's
prospects for attracting investment from abroad.

The FATF noted that Nigeria had recently enacted reforms but
wanted to see evidence that the African state had implemented the
anti-money laundering measures before removing it from the
blacklist. The group invited Nigeria to submit a plan detailing
how the reforms would be implemented.