Financial Action Task Force (FATF) Grey List – Update

The Financial Action Task Force (FATF) is a global watchdog on Money Laundering, Terrorism Financing, and Proliferation Financing. It releases a list of Jurisdictions under Increased Monitoring, commonly referred to as the Grey List.

The Grey List includes countries that are proactively working with the FATF to counter strategic deficiencies in their regulatory framework to combat the threats of money laundering, terrorist financing and proliferation financing.

On 25 October 2024, the FATF concluded its October Plenary. In this latest plenary, the FATF removed Senegal from the ‘Grey List’. Senegal’s removal is in recognition of the countries significant progress in improving its Anti money laundering (AML), combating the financing of terrorism (CFT) and counter-proliferation financing (CPF) regime.  

This plenary also resulted in additions to the ‘Grey List’. The FATF added Algeria, Angola, Côte d’Ivoire, and Lebanon to the ‘Grey List’. These countries are now expected to work with the FATF and address the deficiencies in their AML/CFT/CPF regimes.  

The following countries were added to the “Black List”

• Democratic People’s Republic of Korea
• Iran
• Myanmar

For more information please refer to the FATF website.