meta_id 3255019

On June 19, 2026, the Financial Action Task Force (FATF) published its updated list of high-risk jurisdictions subject to a call for action, identifying the Democratic People's Republic of Korea (DPRK), Iran, and Myanmar as countries with significant strategic deficiencies in their anti-money laundering and combating the financing of terrorism (AML/CFT) regimes. For the DPRK, the FATF reiterated longstanding concerns about the country's failure to address deficiencies in its AML/CFT regime and the serious threats posed by illicit activities related to proliferation of weapons of mass destruction financing. The FATF calls on all members and jurisdictions to apply countermeasures, including terminating correspondent relationships with DPRK banks, closing any subsidiaries or branches of DPRK banks, and limiting business relationships and financial transactions with DPRK persons. The FATF emphasised that increased financial connectivity with the international system raises proliferation financing risks requiring greater vigilance. Regarding Iran, the FATF acknowledged Iran's re-engagement but assessed that Iran has failed to address the majority of its action plan since 2016. The FATF noted Iran's reservations to the United Nations Convention against Transnational Organized Crime and the United Nations Convention for the Suppression of the Financing of Terrorism are overly broad and that domestic compliance is not aligned with FATF standards. The FATF calls on jurisdictions to apply effective countermeasures, including refusing establishment of financial institution subsidiaries or branches from Iran and prohibiting new correspondent relationships. For Myanmar, the FATF called for enhanced due diligence rather than countermeasures, noting some progress in financial intelligence usage and criminal proceeds confiscation. However, the FATF identified extensive fraud and cyber scam activities as presenting significant illicit finance risks. Myanmar must urgently implement its action plan by October 2026 to avoid countermeasures.