FATF expands Grey List

27.06.2023 At the last plenary meeting of the Financial Action Task Force on Money Laundering (FATF), it was noted that several jurisdictions have not yet met the agreed deadlines for tightening the anti-money laundering (AML) rules in accordance with the FATF recommendations.

We are talking about such jurisdictions as Barbados, Burkina Faso, Gibraltar, Jamaica, the Philippines, Senegal, South Sudan, Turkey and Uganda.
The FATF recommended that they "demonstrate significant progress as soon as possible." Otherwise, special measures may be introduced against them. Such measures may include strengthening due diligence of their business transactions with other jurisdictions.

Other outcomes of the last plenary session touched upon the inclusion of Croatia, Cameroon and Vietnam in the list of FATF jurisdictions that are subject to enhanced monitoring as identified AML/CFT deficiencies are eliminated.

Link to source: https://www.fatf-gafi.org/content/fatf-gafi/en/publications/Fatfgeneral/Increased-monitoring-june-20...