FATF's 'call for action' identifies jurisdictions with significant strategic deficiencies in AML/CFT regimes that pose risks to the international financial system, recommending counter-measures such as enhanced due diligence or restrictions on financial transactions.
- True
- False
Answer: True
The 'call for action' (often called the 'blacklist') is FATF's strongest tool to address non-cooperative jurisdictions. Counter-measures may include prohibiting correspondent banking relationships or requiring enhanced scrutiny of transactions, incentivizing reforms to meet international AML/CFT standards.