FATF's increased monitoring update
25 Jul 2024
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On 28 June 2024, the Financial Action Task Force (FATF) published an update on the jurisdictions under increased monitoring that are collaborating with FATF addressing deficiencies in their anti-money laundering (AML), counter-terrorist financing (CFT), and counter-proliferation financing (CPF) regimes. Being on this "grey list" signifies a country's commitment to resolving these issues swiftly under agreed timelines.
The FATF, alongside with FATF-style regional bodies, is working with these jurisdictions, urging them to expedite their action plans. The FATF does not require enhanced due diligence for these countries but emphasises a risk-based approach. Ongoing progress reports and new identifications are part of the FATF's strategy.
Recent updates (since February 2024)
Progress reviewed:
- Bulgaria
- Burkina Faso
- Cameroon
- Croatia
- Democratic Republic of Congo
- Haiti
- Jamaica (no longer under increased monitoring)
- Mali
- Mozambique
- Nigeria
- Philippines
- Senegal
- South Africa
- South Sudan
- Tanzania
- Türkiye (no longer under increased monitoring)
- Vietnam
Deferred reporting:
- Kenya
- Namibia
- Syria
- Yemen
Newly identified:
- Monaco
- Venezuela
The FATF will continue to monitor these countries closely and welcomes their commitment to improving their AML/CFT/CPF frameworks.
FATF’s official publication can be found here.
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