Financial Action Task Force on Money Laundering (FATF) Releases Update to List of Non-Cooperative
Countries and Territories (NCCT)
Ottawa, June 29, 2006 The FATF, of which Canada is a member, announced that it has removed Nigeria from its list of
Non-Cooperative Countries and Territories (NCCT list). In line with past practices, the FATF will continue to monitor closely
the implementation of the anti-money laundering system in this jurisdiction.
Only Myanmar remains on the FATF's NCCT list.
The FATF continues to call on its members to advise their banks and other financial institutions and intermediaries of
changes to the NCCT list and to give special attention to businesses and transactions with persons, including companies,
financial institutions and other entities operating in non-cooperative countries and territories.
Accordingly, with respect to any business or affairs that may be transacted with persons or entities domiciled in
non-cooperative countries and territories, special attention should be given by exercising appropriate due diligence and
caution in conducting any transactions with such persons or entities.
The Office of the Superintendent of Financial Institutions (OSFI) has also issued an advisory to all federally
regulated financial institutions. For a copy of the letter visit the
OSFI website.
For further information on the FATF's NCCT list, please consult the
FATF website.
FINTRAC is an independent federal government agency, created in July 2000, with a mandate to collect, analyze, assess
and, where appropriate, disclose financial intelligence in order to assist in the detection, prevention and deterrence
of money laundering and the financing of terrorist activities.
