STOCKHOLM (S&P Global Ratings) Oct. 27, 2020--The Financial Action Task Force (FATF) removed Iceland from its so-called "gray list" of monitored jurisdictions on Oct. 23, 2020. S&P Global Ratings today said that this announcement confirms its view that the country has swiftly improved its anti-money laundering (AML) regime, since the FATF placed it on the list in October 2019. The addressed deficiencies highlighted by the intergovernmental body last year include: The timely registration of beneficial ownership; Full implementation of an automated system to register and file suspicious transactions; Allocation of adequate resources and staff to the financial intelligence unit; and Effective monitoring of non-profit organizations. While we view as positive that Iceland now abides by the intergovernmental body's guidelines concerning
