After cautioning Indian markets about possible money laundering and terror-funding risks from Iran and North Korea, market regulator Sebi has issued a warning for funds from eight more countries, including Turkey and Ethiopia.

A similar warning could be issued soon by the Reserve Bank of India to banks and financial institutions seeking caution in dealings with entities and funds related to the eight nations, which also include Bolivia, Cuba, Kenya, Myanmar, Sri Lanka and Syria.

The Sebi warning follows a global caution notice from the Financial Action Task Force, the global oversight and policy-framing body for rules to combat money laundering and terror funding risks to international financial markets.

The FATF periodically issues such public notices to various foreign governments, which subsequently forward the same to their respective financial regulators.

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FATF has previously also issued such warnings for risks attached with Iran and North Korea and the subsequent caution notices have been issued by Sebi and RBI.

In the latest warning dated June 24, the FATF has again cautioned against Iran and North Korea, seeking 'counter-measures to protect international financial system from the ongoing and substantial money laundering and terrorist financing risk emanating' from these countries.

At the same time, FATF also listed out Bolivia, Cuba, Ethiopia, Kenya, Myanmar. Sri Lanka, Syria, Turkey as countries with strategic deficiencies in their rules to combat money laundering and terror funding.

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FATF said these eight countries 'have not made sufficient progress in addressing the deficiencies or have not committed to an action plan developed with the FATF to address the deficiencies'.

After the Indian government forwarded the FATF warning to the Securities and Exchange Board of India, the regulator asked the stock exchanges to take note of the same through a letter dated July 12.

The stock exchanges, in turn, asked the market entities today to take note of the FATF warning and ensure compliance.