Long abstract

In October 2005, the FATF removed Nauru from the NCCTs list after Nauru abolished its 400 shell banks and therefore removed the major money laundering risk.  At its June 2006 Plenary meeting, the FATF de-listed Nigeria, recognising the progress that that country has made in implementing AML reforms, including establishing an operational financial intelligence unit and progressing money laundering investigations, prosecutions, and convictions.