By: André Jerusalem
The CVM (Brazilian Securities and Exchange Commission) released at the beginning of November the CVM Report 04/21: GAFI/FATF Communication, which provides for the Financial Action Task Force against Money Laundering and the Financing of Terrorism (informal international grouping), in which the autarchy deals with the countries and jurisdictions that must be monitored intensively by the international community, given the strategic deficiency in combating money laundering and the financing of terrorism.
Countries and jurisdictions that are considered high risk and have strategic deficiency have been classified as “grey list” (gray listed), and said list includes the following jurisdictions:
- Albania,
- Barbados,
- Burkina Faso,
- Cambodia,
- Cayman Islands,
- Haiti,
- Jamaica,
- Jordan,
- Mali,
- Malta,
- Morocco,
- Myanmar,
- Nicaragua,
- Pakistan,
- Panama,
- Philippines,
- Senegal,
- South Sudan,
- Syria,
- Türkiye,
- Uganda,
- Yemen,
- Zimbabwe.
The analyses carried out on the risk of these countries are accompanied by a report on which points should be changed by the respective countries and jurisdictions that are classified on this “grey list”. Failure to provide improvements and/or remaining on the “grey list” characterizes weakness in the financial system of these countries, making it unattractive to carry out investments and commercial partnerships with these countries.