Following the conclusion of the most recent meeting of the Financial Action Task Force (“FATF”), their Press Release indicates the following amendments to the FATF Grey List: (https://lnkd.in/eneMHPgn)

“Jurisdictions under Increased Monitoring:

Jurisdictions under increased monitoring are actively working with the FATF to address the 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 implement an Action Plan to resolve swiftly the identified strategic deficiencies within agreed timeframes.

At this Plenary, the FATF added Algeria, Angola, Côte d’Ivoire and Lebanon to the list of jurisdictions subject to increased monitoring.

Jurisdictions no longer under Increased Monitoring:

The FATF Plenary congratulated Senegal for its significant progress in addressing the strategic anti-money laundering, countering financing of terrorism and countering financing of proliferation (AML/CFT/CPF) deficiencies previously identified during its mutual evaluation. Senegal has completed its Action Plans to resolve the identified strategic deficiencies within agreed timeframes and will no longer be subject to the FATF’s increased monitoring process.

Senegal will continue to work with the FATF and the Inter Governmental Action Group against Money Laundering in West Africa (GIABA) of which it is a member to continue strengthening its AML/CFT/CPF regimes.”