FATF update to High Risk Countries

The FATF June Plenary has added Bolivia and the British Virgin Islands (UK) to the list of jurisdictions under Increased Monitoring, also known as the “grey list”.

These are countries that have strategic AML/CFT deficiencies but have committed to work with the FATF to resolve them quickly. If your clients or matters have links to either jurisdiction, it’s worth reassessing the risk and documenting your rationale clearly.

Croatia, Mali and Tanzania have been removed from the grey list following successful completion of their FATF action plans. They’ve shown positive progress and will now continue working with their regional bodies to maintain momentum.

You may consider updating your risk assessments and due diligence processes to reflect the latest changes.

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