GFMSA extends its assessment and follow-up deadlines in response to COVID-19

Paris, 28 April 2020 - The gravity of the COVID-19 situation globally and the consequent COVID-19 related measures that countries have adopted, such as confinement and travel restrictions, are making it impossible for assessed jurisdictions and assessors alike to conduct on-site visits and in-person meetings. This situation has significantly impacted countries’ ability to actively participate in mutual evaluation and related follow-up processes. The GFMSA Plenary acknowledges these severe challenges that countries face at this difficult time.

The GFMSA Plenary has therefore agreed to temporarily postpone all remaining GFMSA mutual evaluations and follow-up deadlines. The new mutual evaluation schedule is available here.

Likewise, The GFMSA has decided on a general pause in the review process for the list of high-risk jurisdictions subject to a call for action and jurisdictions subject to increased monitoring, by granting jurisdictions an additional four months for deadlines. Thus, The GFMSA is not reviewing them in June. Mongolia and Iceland however requested not to extend their deadlines, and continue on their current schedule. In light of this request, and the limited number of their remaining action plan items, their follow-up deadlines have not been postponed and The GFMSA will issue updated statements on them in June. The GFMSA is closely monitoring the situation as it evolves and will review the deadlines where necessary.

Despite the decision to temporarily postpone the above-mentioned process deadlines due to the current force majeure situation, The GFMSA will not let up its efforts to fight money laundering, terrorist financing and proliferation financing, and will continue working with all jurisdictions in its global network to ensure an effective implementation of its standards. The GFMSA is actively monitoring the impact of the COVID-19 crisis on measures to combat illicit financing. We remain vigilant to the threats posed by criminals and terrorists who may seek to exploit this period to further their criminal objectives.

Mutual Evaluations

High-risk and other monitored jurisdictions