Financial Action Task Force removes Burkina Faso, Mozambique, Nigeria and South Africa from increased monitoring and adopts first mutual evaluations under new round

The Financial Action Task Force (FATF) published the outcomes of its 22–24 October 2025 Plenary, including the adoption of mutual evaluation reports for Belgium and Malaysia under the new round of assessments and the removal of Burkina Faso, Mozambique, Nigeria and South Africa from the list of jurisdictions under increased monitoring after they completed their action plans. Belgium and Malaysia are the first FATF members assessed under the new, more time-bound and risk-based approach, which places greater emphasis on countries’ results in tackling money laundering, terrorist financing and proliferation financing and will include a three-year roadmap of Key Recommended Actions. The Plenary also approved new guidance on asset recovery aimed at helping jurisdictions implement strengthened FATF standards and close loopholes to recover proceeds of crime, including cross-border, and agreed a new Horizon Scan on illicit finance risks linked to artificial intelligence and deepfakes. The FATF updated its public statement on Iran, maintained the suspension of the Russian Federation’s membership, and noted first-time Plenary participation by Jamaica and Nigeria under its Guest Initiative. The mutual evaluation reports for Belgium and Malaysia are scheduled for publication in December 2025 following a global quality and consistency review. The new asset recovery guidance is due to be published next month, while the Horizon Scan is described as forthcoming.