FATF Plenary and Working Group Meetings 2023
October 2023
A summary of the issues discussed and decided by the Plenary in October 2023 is available on the FATF website.
The FATF did not add any new jurisdictions to the list of High-Risk Jurisdictions subject to a Call for Action. These high-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members to apply enhanced due diligence, and in the most serious cases, countries are called upon to apply counter-measures to protect the international financial system from the ongoing money laundering, terrorist financing, and proliferation financing risks emanating from the country. This list is often externally referred to as the “black list”.
Jurisdictions subject to a FATF call to apply countermeasures: Democratic People's Republic of Korea (DPRK) and Iran.
Jurisdiction subject to a FATF call to apply enhanced due diligence measures proportionate to the risks arising from the jurisdiction: Myanmar.
When applying enhanced due diligence measures, it is important to ensure that flows of funds for humanitarian assistance, legitimate NPO activity and remittances are not disrupted.
The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. The FATF does not call for the application of enhanced due diligence to be applied to these jurisdictions, but encourages its members to take into account the observations made by the FATF in their risk analysis. This list is often externally referred to as the "grey list".
New jurisdictions subject to increased monitoring: Bulgaria.
Jurisdiction no longer under increased monitoring: Albania, the Cayman Islands, Jordan and Panama.
June 2023
A summary of the issues discussed and decided by the Plenary in June 2023 is available on the FATF website.
The FATF did not add any new jurisdictions to the list of High-Risk Jurisdictions subject to a Call for Action. These high-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members to apply enhanced due diligence, and in the most serious cases, countries are called upon to apply counter-measures to protect the international financial system from the ongoing money laundering, terrorist financing, and proliferation financing risks emanating from the country. This list is often externally referred to as the “black list”.
Jurisdictions subject to a FATF call to apply countermeasures: Democratic People's Republic of Korea (DPRK) and Iran.
Jurisdiction subject to a FATF call to apply enhanced due diligence measures proportionate to the risks arising from the jurisdiction: Myanmar.
When applying enhanced due diligence measures, it is important to ensure that flows of funds for humanitarian assistance, legitimate NPO activity and remittances are not disrupted.
The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. The FATF does not call for the application of enhanced due diligence to be applied to these jurisdictions but encourages its members to take into account the observations made by the FATF in their risk analysis. This list is often externally referred to as the "grey list".
New jurisdictions subject to increased monitoring: Cameroon, Croatia and Vietnam.
February 2023
A summary of the issues discussed and decided by the Plenary in February 2023 is available on the FATF website.
The FATF did not add any new jurisdictions to the list of High-Risk Jurisdictions subject to a Call for Action. These high-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members to apply enhanced due diligence, and in the most serious cases, countries are called upon to apply counter-measures to protect the international financial system from the ongoing money laundering, terrorist financing, and proliferation financing risks emanating from the country. This list is often externally referred to as the “black list”.
Jurisdictions subject to a FATF call to apply countermeasures: Democratic People's Republic of Korea (DPRK) and Iran
Jurisdiction subject to a FATF call to apply enhanced due diligence measures proportionate to the risks arising from the jurisdiction: Myanmar.
When applying enhanced due diligence measures, it is important to ensure that flows of funds for humanitarian assistance, legitimate NPO activity and remittances are not disrupted.
The FATF also revised the list of jurisdictions with strategic deficiencies in their approach to preventing and detecting money laundering and terrorist financing and with whom the FATF has developed an action plan to address the identified deficiencies. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. The FATF does not call for the application of enhanced due diligence to be applied to these jurisdictions but encourages its members to take into account the observations made by the FATF in their risk analysis. This list is often externally referred to as the "grey list".
New jurisdictions subject to increased monitoring: South Africa and Nigeria.
Jurisdiction no longer under increased monitoring: Cambodia and Morocco.