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FATF Grey List Rules
October 24 , 2024
37 days
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- The Financial Action Task Force (FATF) made major changes to the criteria to focus on those nations posing greater risks to the international financial system.
- The FATF identifies jurisdictions with strategic deficiencies in their system for fighting money laundering, terrorist financing and proliferation financing.
- Under the revised criteria, jurisdictions will be prioritised for active review if they meet the referral criteria and are:
- An FATF Member;
- A country on the World Bank High-Income Countries list (excluding those with a financial sector of two or fewer banks); or
- A country that has financial sector assets above USD 10 billion (measured by broad money).
- Around 21 nations are in FATF grey list now.
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