The Financial Action Task Force (FATF) published an updated statement on jurisdictions under increased monitoring (the “grey list”), removing the Philippines after it completed its action plan and newly identifying Lao PDR and Nepal. At its February 2025 Plenary, the FATF also made an initial determination that Croatia, Mali and Tanzania have substantially completed their action plans and therefore warrant on-site assessments to verify that reforms are being implemented and sustained. The increased monitoring list now covers Algeria, Angola, Bulgaria, Burkina Faso, Cameroon, Côte d’Ivoire, Croatia, Democratic Republic of the Congo, Haiti, Kenya, Lao PDR, Lebanon, Mali, Monaco, Mozambique, Namibia, Nepal, Nigeria, South Africa, South Sudan, Syria, Tanzania, Venezuela, Vietnam and Yemen. Progress updates were issued for jurisdictions reviewed since October 2024, while Algeria, Angola, Côte d’Ivoire, Haiti, Lebanon, Monaco, Syria and Yemen deferred reporting and retain previously issued statements. FATF reiterated that it does not call for enhanced due diligence for jurisdictions under increased monitoring and that the standards do not envisage de-risking, while urging jurisdictions to complete action plans within agreed timeframes and to avoid disrupting humanitarian assistance, legitimate non-profit organisation activity and remittances. On-site assessments for Croatia, Mali and Tanzania are intended to confirm that implementation has begun and is being sustained, and that political commitment remains in place. The Philippines is expected to work with the Asia/Pacific Group on Money Laundering to sustain improvements, with FATF encouraging continued focus on counter-terrorist financing outcomes and ensuring measures affecting non-profit organisations do not disrupt legitimate activity.
Financial Action Task Force 2025-02-21
Financial Action Task Force updates grey list removing the Philippines adding Lao PDR and Nepal and triggering on-site assessments for Croatia Mali and Tanzania
The Financial Action Task Force (FATF) updated its "grey list," removing the Philippines and adding Lao PDR and Nepal. Croatia, Mali, and Tanzania have substantially completed their action plans, warranting on-site assessments. The list now includes 26 jurisdictions, with progress updates for those reviewed since October 2024. FATF emphasized that increased monitoring does not require enhanced due diligence or de-risking, urging jurisdictions to complete action plans without disrupting humanitarian aid or legitimate activities.