Financial Action Task Force (FATF) on Higher Risk Countries

The Financial Action Task Force (FATF) regularly issues public statements on high-risk and non-cooperative jurisdictions. The public statements are generally issued after each FATF Plenary, which are held three times per year – in February, June and October.

Financial Action Task Force (FATF) – Public Statements on Higher Risk Countries

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 and urges all jurisdictions 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 money laundering, terrorist financing, and proliferation financing (ML/TF/PF) risks emanating from the country. This list is often externally referred to as the “black list”.

The most up to date list was published on 24 February 2023 and is available at https://www.fatf-gafi.org/content/fatf-gafi/en/publications/High-risk-and-other-monitored-jurisdictions/Call-for-action-February-2023.html.

Jurisdictions under Increased Monitoring

Jurisdictions under increased monitoring are actively working with the FATF to address strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing. 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. This list is often externally referred to as the “grey list”.

The most up to date list was published on 24 February 2023 and is available at https://www.fatf-gafi.org/en/publications/High-risk-and-other-monitored-jurisdictions/Increased-monitoring-february-2023.html.

FATF public statements of this type relate to country risk; they influence third country policy acts adopted by the European Commission, pursuant to the 5th Anti-Money Laundering Directive.