For the eleventh year, North Korea remained on the highest level sanctions list for money laundering issued by the Financial Action Task Force(FATF).

According to South Korea's financial watchdog agency, the FATF maintained that North Korea and Iran were “high risk jurisdictions subject to a call for action” at its recent general assembly in Paris, France.

For countries on this blacklist, the Task Force urges members to apply enhanced due diligence and countermeasures while financial transactions are virtually suspended. 

The FATF also has a grey list of jurisdictions under increased monitoring, which increased to include 23 nations. The new additions are Jordan, Mali and Turkey.

The latest meeting additionally adopted revised guidelines on a risk-based approach to virtual assets, referring to global standards on assessing the risk of money laundering and terrorist financing, as well as taking corresponding measures.