The Financial Action Task Force (FATF) maintains a "grey list" of countries with strategic deficiencies in their anti-money laundering and counter-terrorism financing (AML/CFT) frameworks.

These jurisdictions are included when they fail to meet FATF standards or if there are concerns about their AML/CFT measures. Reasons for inclusion on the list include weak AML/CFT frameworks, insufficient customer due diligence, lack of cooperation, and presence of terrorist financing. Being on the grey list brings increased international scrutiny, impacts access to global financial systems, and affects a country's economy and reputation. To be removed from the list, countries must address the identified deficiencies and demonstrate progress in strengthening their AML/CFT frameworks.

The FATF identifies jurisdictions with weak measures to combat money laundering and terrorist financing (AML/CFT) in two FATF public documents that are issued three times a year. The FIAU endorses such documents through a Guidance Note on High Risk and Non-Cooperative Jurisdictions published on 4 April 2012 and as a result, subject persons are obliged to comply with the FATF public documents.

Below please find the updated list published by the FATF on 23 February 2024:

 

 

Category 1 – Jurisdictions that have strategic AML/CFT deficiencies and to which counter-measures apply

Category 2 – Jurisdictions with strategic AML/CFT deficiencies that 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

Category 3 – Jurisdictions with strategic AML/CFT deficiencies that have developed an action plan with the FATF and have made a high-level political commitment to address their AML/CFT deficiencies

Democratic People’s Republic of Korea (DPRK) 

 

Bulgaria

Iran 

 

Burkina Faso 

Myanmar

  

Cameroon 

   

Croatia

 

 

Democratic Republic of the Congo

   

Haiti ‚Äč

 

 

Jamaica 

  

  

Kenya *NEW*

  

  

Mali 

 

 

Mozambique

    Namibia *NEW*
   

Nigeria

  

  

Philippines 

  

  

Senegal 

   

South Africa

  

  

South Sudan 

   

Syria 

   

Tanzania

   

Turkey

  

  

Vietnam

 

 

Yemen

 

Additionally, kindly note that the following jurisdictions were removed form Category 3: BarbadosGibraltarUganda and the United Arab Emirates.

 

For further information kindly refer to the following sources: