Papua New Guinea one step away from being blacklisted, global money laundering watchdog warns

Papua New Guinea one step away from being blacklisted, global money laundering watchdog warns

The Financial Action Task Force has placed PNG on its "grey list" due to "strategic deficiencies" in government oversight, but the Prime Minister Marape says the country will "work its way out".

PNG one step away from blacklist, warns global money laundering watchdog

By Kaya Selby, RNZ Pacific journalist Papua New Guinea is under a close watch for money laundering, running a risk of being abandoned by global investors. The Financial Action Task Force (FATF) has placed PNG on its “grey list” due to “strategic deficiencies” in government oversight. The grey-list means that watchdog officials are monitoring closely, and that the government is time-bound to address their blind spots. READ MORE: It’s official, t…