TnT non compliant and is now recognized and published as a threat of high-risk jurisdictions

http://www.fatf-gafi.org/document/62/0,3746,en_32250379_32236992_43575998_1_1_1_1,00.html

Why is this occuring for 2011? Who is in responsible for this gross incompetence and malfeansce of public office ? Read on:

Initial referral to the FATF’s International Co-operation Review Group (ICRG), ICRG is based primarily on the results of the jurisdiction’s mutual evaluation. Jurisdictions whose mutual evaluation reveals a significant number of key deficiencies are referred to the ICRG for a preliminary or prima facie review conducted by one of four ICRG regional review groups. This initial review includes outreach to each jurisdiction, including the opportunity to comment on the draft prima facie report. Based upon that report, the FATF decides whether it should conduct a more in-depth review of the jurisdiction’s key strategic AML/CFT deficiencies. Each reviewed jurisdiction is provided an opportunity to participate in face-to-face meetings with the regional review group to discuss the report, including developing an action plan with the FATF to address the deficiencies identified. The FATF specifically requests high-level political commitment from each reviewed jurisdiction to implement these action plans.

Based upon the results of this process, the FATF issued two public documents in February 2010—the “Public Statement” and “Improving Global AML/CFT Compliance: Ongoing process.” Both documents were updated in June and October 2010, and will be updated at each subsequent FATF Plenary.

The October 2010 Public Statement reaffirmed the FATF’s 25 February 2009 Public Statement that called on its members and other jurisdictions to apply effective counter-measures to protect their financial sectors from ML/FT risks emanating from Iran. In addition, this statement highlighted the fact that the Democratic People’s Republic of Korea has not committed to the AML/CFT international standards, nor has it responded to the FATF’s numerous requests for engagement on these issues.

In the October 2010 “Improving Global AML/CFT Compliance: On-going Process” , the FATF identified 31 jurisdictions with strategic AML/CFT deficiencies that have provided a high-level political commitment to address the deficiencies through implementation of an action plan developed with the FATF. The situation differs in each jurisdiction and therefore each presents different degrees of ML/FT risks. The FATF encouraged its members to consider the information in the public document. These jurisdictions are: Angola, Antigua and Barbuda, Bangladesh, Bolivia, Ecuador, Ethiopia, Ghana, Greece, Honduras, Indonesia, Kenya, Morocco, Myanmar, Nepal, Nigeria, Pakistan, Paraguay, Philippines, São Tomé and Príncipe, Sri Lanka, Sudan, Syria, Tanzania, Thailand, Trinidad & Tobago, Turkey, Turkmenistan, Venezuela, Vietnam, Ukraine, and Yemen.

The FATF closely monitors progress of these jurisdictions and the implementation of their action plans. The FATF will continue to work with the jurisdictions during the implementation of their action plans until adequate progress has been made and jurisdictions can be removed from public identification. This was the case for Azerbaijan and Qatar, which were mentioned in the second FATF publication since February 2010. In October 2010, the FATF publicly welcomed the significant progress in improving the AML/CFT regimes in Azerbaijan and Qatar and noted that these jurisdictions met their commitments in their action plans regarding the strategic AML/CFT deficiencies that the FATF had identified in February 2010.

The FATF will also continue, on an ongoing basis, to identify additional jurisdictions which pose ML/FT risks to the international financial system. In this regard, the FATF has already begun preliminary reviews of additional jurisdictions and will decide, in February 2011, to conduct a more in-depth or targeted review of a number of these jurisdictions. The results of those targeted reviews will be considered and published in June 2011.

What are the consequency of being a non-co-operative countries and territories (NCCTs) and being on the list aforementioned? Can NYSE , EU and Pension Plan in NA do business with Trinidad & Tobago and at what level or increased cost of doing business or penalities by being in this aforementioned list. Would you as a solicted funder want to put your sovereign wealth into a listed country such as Trinidad and Tobago or any or the other above named 30 countries?