Disclosure of FATF statements (June 2026 plenary meeting)

Circular Letter No. CC/2026/00000021
Mod. 99999975/T – 01/14
Subject: Disclosure of FATF statements (June 2026 plenary meeting)
I. STATEMENTS ISSUED BY THE FATF
With the aim of protecting the international financial system from the risks associated with money laundering and terrorist financing, as well as fostering adequate compliance with AML/CFT standards, the FINANCIAL ACTION TASK FORCE (FATF) acts to identify jurisdictions with strategic deficiencies in money laundering and terrorist financing and to develop coordinated and decisive global responses to combat these realities. Following the plenary meeting held between June 17 and 19, 2026, the FATF disclosed the following documents:

• HIGH-RISK JURISDICTIONS SUBJECT TO A CALL FOR ACTION, of June 19, 2026, which identifies jurisdictions subject to countermeasures and jurisdictions with strategic deficiencies in preventing money laundering and terrorist financing that have not yet made sufficient progress in overcoming these deficiencies and/or have not agreed with the FATF on an action plan for this purpose. The full content of this document can be consulted at: High-Risk Jurisdictions subject to a Call for Action - 19 June 2026.
• JURISDICTIONS UNDER INCREASED MONITORING, of June 19, 2026, which identifies jurisdictions with strategic deficiencies in preventing money laundering and terrorist financing that have developed an action plan to overcome them, and are subject to a monitoring process by the FATF. The full content of this document can be consulted at: Jurisdictions under Increased Monitoring - 19 June 2026.
  Regarding these documents, the following should be noted:
  a) Regarding the list of High-Risk Jurisdictions Subject to a Call for Action:
• The FATF reiterates its call for the application of countermeasures in relation to the Democratic People's Republic of Korea (North Korea) and the Islamic Republic of Iran, emphasizing an increase in proliferation financing risk (“Given heightened proliferation financing risks, the FATF reiterates its call to apply countermeasures on these high-risk jurisdictions.”).
• The Republic of the Union of Myanmar remains in the category of jurisdictions subject to the application of enhanced identification and due diligence measures proportionate to the resulting risks, with the FATF reiterating that if no progress is made by October 2026, countermeasures will be considered.
  b) Regarding the list of Jurisdictions Under Increased Monitoring:
• Since February 2026, the FATF has assessed the progress of 20 jurisdictions, and their respective statements have been updated;
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• Regarding the State of Kuwait and the Independent State of Papua New Guinea, previous FATF statements were included in this document, but these may not reflect the current state of their respective anti-money laundering and counter-terrorist financing regimes;
• Two new jurisdictions were identified and included: Bosnia and Herzegovina and the Republic of Iraq.
• The exit of two jurisdictions should be noted: the People's Democratic Republic of Algeria and the Republic of Namibia.
  In addition, it is important to note the continued suspension of the membership status of the Russian Federation.

II. Comparative table with statements issued by the FATF in February 2026

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III. PROCEDURES AND MEASURES TO BE ADOPTED BY INSTITUTIONS
Considering the content of the documents produced by the FATF and within the scope of the duty to disseminate information to which supervisory authorities are bound (Article 120 of Law No. 83/2017, of August 18 - “Law No. 83/2017”), Banco de Portugal hereby informs the following, regarding business relationships, occasional transactions, and operations carried out with persons, entities, and collective interest centers without legal personality1 resident or established in the jurisdictions identified below:
a. Considering the existence of a very high risk of money laundering, terrorist financing, and proliferation of weapons of mass destruction, the maintenance of countermeasures, proportionate to those risks, is determined, pursuant to and for the purposes of paragraph b) of no. 1 of Article 99 of Law No. 83/2017, in relation to the DEMOCRATIC PEOPLE'S REPUBLIC OF KOREA (NORTH KOREA) and the ISLAMIC REPUBLIC OF IRAN, and which must in any case include the countermeasures identified in the High-Risk Jurisdictions Subject to a Call For Action and in paragraphs f) to h) and k) of no. 3 of Article 99 of the aforementioned Law No. 83/2017. b. Pursuant to no. 2 of Article 36 and paragraph b) of no. 3 of Article 37 of Law No. 83/2017, enhanced identification and due diligence measures – including necessarily the measures specified in the High-Risk Jurisdictions Subject to a Call For Action – must continue to be adopted, and all business relationships, occasional transactions, and operations involving the DEMOCRATIC PEOPLE'S REPUBLIC OF KOREA (NORTH KOREA), the ISLAMIC REPUBLIC OF IRAN, or the REPUBLIC OF THE UNION OF MYANMAR must be examined with special care.
c. As for business relationships, occasional transactions, and operations involving jurisdictions subject to a monitoring process, or other high-risk third countries included in Commission Delegated Regulation (EU) 2016/1675 of July 14, 2016, in its currently effective version, enhanced measures proportionate to the concretely identified risk must be adopted, without prejudice to the above determination, under the provisions of no. 2 of Article 36, no. 1 and paragraph b) of no. 3 of Article 37, all of the aforementioned Law No. 83/2017.
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Supplementary information on the conclusions of the FATF plenary meeting can be obtained on the website www.fatf-gafi.org.

1 Including their respective representatives and beneficial owners.