The Financial Action Task Force ("FATF") has published an update following its plenary meeting in Paris on 27-28 October 2011. In the update the FATF states that it has produced two public documents as part of its ongoing work to identify jurisdictions that may pose a risk to the international financial system: (i) FATF public statement on jurisdictions with strategic anti-money laundering and combating the financing of terrorism ("AML/CFT") deficiencies; and (ii) improving Global AML/CFT Compliance: ongoing process - jurisdictions with strategic AML/CFT deficiencies for which they have developed an action plan with the FATF. The FATF also provides a brief update on the progress made on the review of the FATF Standards. The FATF states that there is broad agreement on the principles and proposed revisions.