This article discusses the Review to Identify Non-Cooperative Countries or Territories, which was issued by the Financial Action Task Force in June 2000. After a general overview of the problem of secrecy havens and of the criteria used to identify them, the article gives a critical assessment of the process used to arrive at the ‘black list’ of 15 jurisdictions that was eventually drawn up. In this respect, a comparison is made with the work carried out by the OECD in the field of unfair tax competition by tax havens. It also looks forward at the possible follow-up to this list, both by the FATF and other international fora.