So the ramifications of not keeping up with world standards can be extremely serious. We should therefore continue to do what we can to comply with international standards. BIS Review 18/2009  3  Incidentally, some of our Pacific neighbours were threatened to be blacklisted some years ago because they did not comply with these standards.
I can still recall high level delegations from these islands scurrying off to New York to try to get them off the list. Almost all succeeded except perhaps one. You see, these islands had established offshore financial centers before these anti money laundering standards were introduced. Some 20 years ago Fiji seriously contemplated setting up similar offshore financial centers.