Ghana has been indicted as one of the countries flouting recommendations for the fight against money-laundering and financing terrorism despite ongoing steps by the Financial Intelligence Centre, FIC to tackle the problem. The FIC has in recent months launched Guidelines on Anti Money Laundering for the various sub-sector of the financial services sector and revealed about some 9 million dollars was laundered in the last two years.Out of the amount, $2 million has been confiscated to the state with the remaining $7 million is still under investigation.An international money-laundering watchdog, the Financial Action Task Force, FATF has added the country as well as Tanzania, Pakistan, Indonesia and Thailand to its blacklist of nations that fail to meet international standards of Money laundering. Aside from these five new ones, the blacklist now includes 17 countries including: Bolivia, Cuba, Ethiopia, Iran, Kenya, Myanmar, Nigeria, North Korea, Sao Tome and Principe, Sri Lanka, Syria and Turkey.No countries were taken off the blacklist, but Honduras and Paraguay were removed from an intermediary "grey-list" of countries found to be falling behind on international standards despite having committed to them. The grey-list includes 22 countries: Algeria, Angola, Antigua and Barbuda, Argentina, Bangladesh, Brunei, Cambodia, Ecuador, Kyrgyzstan, Mongolia, Morocco, Namibia, Nicaragua, the Philippines, Sudan, Tajikistan, Trinidad and Tobago, Turkmenistan, Venezuela, Vietnam, Yemen and Zimbabwe.The FATF can make recommendations to any of the 36 countries that have signed a membership charter, as well as other nations, but it has no power to impose sanctions for violations.The body whose recommendations reach more than 180 countries through regional networks, estimates that money laundering and related financial crimes cost between 2 percent and 5 percent of global gross domestic product.In its report, the FATF also called on governments to consider tax evasion as a money-laundering offence. The agency is also extending its focus to target the non-proliferation of weapons of mass destruction.