fatf grey list countries 2023

RT @keith_azopardi: 9 days ago Govt were "100% confident" that Gibraltar would be taken off the #FATF #GreyList. This is because the FATF remains concerned that Albanias apparent plans to establish a Voluntary Tax Compliance (VTC) programme do not comply with the FATFs principles for managing the AML/CFT implications of VTC programmes or FATFs best practices in this area. The FATF continues to monitor Ugandas oversight of the NPO sector to encourage the application of the risk-based approach to supervision of NPOs in line with the FATF Standards and mitigate unintended consequences. Jamaica should continue to work on implementing its action plan to address its strategic deficiencies, including by: (1) ensuring adequate, risk-based supervision in all DNFBP sectors; and (2) demonstrating that accurate and up-to-date basic and beneficial ownership information is available on a timely basis to competent authorities, and effective, proportionate and dissuasive sanctions are applied. The following countries had their progress reviewed by the FATF since February 2023: Albania, Barbados, Burkina Faso, Cayman Islands, Democratic Republic of Congo, Gibraltar, Jamaica, Jordan, Mali, Mozambique, Panama, Philippines, Senegal, South Africa, South Sudan, Trkiye, UAE, and Uganda. Morocco is therefore no longer subject to the FATFs increased monitoring process. Therefore, the FATF encourages its members and all jurisdictions to take into account the information presented below in their risk analysis. The FATF continues to monitor that Trkiyes oversight of the NPO sector is in line with the risk-based approach as set out in the FATF Standards. FATF Week February 2023 - Financial Action Task Force The FATF urges Senegal to swiftly implement its action plan to address the above-mentioned strategic deficiencies as soon as possible. However, the FATF has not yet decided to authorise an on-site visit to the country to verify the implementation of Albanias AML/CFT reforms. The FATF does not call for the application of enhanced due diligence measures to be applied to these jurisdictions. FATF GREY LIST AND BLACK LIST COUNTRIES OVERVIEW - LinkedIn Since February 2010, when Syria made a high-level political commitment to work with the FATF and MENAFATF to address its strategic AML/CFT deficiencies, Syria has made progress to improve its AML/CFT regime. Since last year, several countries have been on the FATF Grey list, including Botswana, Cayman Islands, Mauritius, Panama, Uganda, Syria, UAE, and many more. Senegal should continue to work on implementing its action plan to address its strategic deficiencies, including by: (1)improving compliance by detecting AML/CFT violations and imposing effective, proportionate and dissuasive sanctions against non-compliant DNFBPs; (2) updating and maintaining comprehensive beneficial ownership information on legal persons and arrangements and strengthening the system of sanctions for violations of transparency obligations; (3)enhancing capacity and support for LEAs and prosecutorial authorities involved in combatting TF in line with the 2019 TF National Strategy; and (4) implementing an effective TFS regime related to TF and PF as well as risk-based monitoring and supervision of NPOs. Since February 2010, when Yemen made a high-level political commitment to work with the FATF and MENAFATF to address its strategic AML/CFT deficiencies, Yemen has made progress to improve its AML/CFT regime. The FATF strongly urges Jamaica to swiftly demonstrate significant progress in completing its action plan by June 2023 or the FATF will consider next steps, which could include calling on its members and urging all jurisdictions to apply enhanced due diligence to business relations and transactions with Jamaica. The result of their mutual evaluation was released in October 2021. The FATF Standards do not envisage de-risking, or cutting-off entire classes of customers, but call for the application of a risk-based approach. Jordan has made the following key reforms, including: (1) completing and disseminating the ML/TF risk assessments of legal persons and virtual assets; (2) conducting inspections of reporting entities including FIs and DNFBPs; (3) implementing a sanctions mechanism for violations of the transparency obligations related to legal persons and arrangements; (4) applying effective, proportionate, and dissuasive sanctions for noncompliance; (5) pursuing money laundering investigations and prosecutions for predicate offences in line with its risk profile; (6) applying effective, proportionate, and dissuasive sanctions in ML cases; (7) implementing a legal and institutional framework for TFS; and (8) demonstrating that TFS compliance is assessed and TFS deficiencies are rectified. South Africa and Nigeria, along with 21 other jurisdictions, have been 'grey-listed' by the Financial Action Task Force (FATF) as of 24 February 2023. Which countries are in the FATF GREY list? (Updated February 2023) Haiti, Nigeria, Syria, Tanzania and Yemen chose to defer reporting; thus, the statements previously issued for those jurisdictions are included below, but it may not necessarily reflect the most recent status of the jurisdictions AML/CFT regimes. Countries - Financial Action Task Force The FATF urges Senegal to swiftly implement its action plan to address the above-mentioned strategic deficiencies as soon as possible. Three times a year, the FATF publicly identifies any jurisdictions with weaknesses in their AML/CFT measures as either High-Risk Jurisdictions subject to a Call for Action or Jurisdictions under Increased Monitoring. Tanzania will work to implement its FATF action plan by: (1) improving risk-based supervision of FIs and DNFBPs, including by conducting inspections on a risk-sensitive basis and applying effective, proportionate, and dissuasive sanctions for non-compliance; (2) demonstrating authorities capability to effectively conduct a range of investigations and prosecutions of ML in line with the countrys risk profile; (3) demonstrating that LEAs are taking measures to identify, trace, seize, and confiscate proceeds and instrumentalities of crime; (4) conducting a comprehensive TF Risk Assessment and begin implementing a comprehensive national CFT strategy as well as demonstrating capability to conduct TF investigations and pursue prosecutions in line with the countrys risk profile; (5) increasing awareness of the private sector and competent authorities on TF and PF-related TFS; and (6) carrying out the TF risk assessment for NPOs in line with the FATF Standards and using it as a basis to develop an outreach plan. The anti-money laundering body's grey-list names countries that are under increased scrutiny until they have tightened up their systems and policies. Haiti should continue to work on implementing its action plan to address its strategic deficiencies, including by: (1)completing its ML/TF risk assessment process and disseminating the findings; (2)facilitating information sharing with relevant foreign counterparts; (3)addressing the technical deficiencies in its legal and regulatory framework that impede the implementation of AML/CFT preventive measures and implementing risk-based AML/CFT supervision for all financial institutions and DNFBPs deemed to constitute a higher ML/TF risk; (4)ensuring basic and beneficial ownership information are maintained and accessible in a timely manner; (5)ensuring a better use of financial intelligence and other relevant information by competent authorities for combatting ML and TF; (6)addressing the technical deficiencies in its ML offence and demonstrating authorities are identifying, investigating and prosecuting ML cases in a manner consistent with Haitis risk profile; (7)demonstrating an increase of identification, tracing and recovery of proceeds of crimes; (8)addressing the technical deficiencies in its TF offence and targeted financial sanctions regime; and (9)conducting appropriate risk-based monitoring of NPOs vulnerable to TF abuse without disrupting or discouraging legitimate NPO activities. Trkiye should continue to work on implementing its action plan to address its strategic deficiencies, including by: (1) increasing on-site inspections by supervisors across all sectors, commensurate with risk; (2) enhancing the use of financial intelligence to support ML investigations; (3) undertaking more complex ML investigations and prosecutions; (4) using statistics on confiscation and terrorist financing to update risk assessments and inform policy; (5) conducting more financial investigations in terrorism cases, prioritising TF investigations and prosecutions related to UN-designated groups, and ensuring TF investigations are extended to identify financing and support networks; (6) concerning targeted financial sanctions, pursuing outgoing requests to third-countries related to UN-designated groups, in line with Trkiyes risk profile; and (7) fully implementing a risk-based approach for the supervision of non-profit organisations to prevent their abuse for terrorist financing, including by taking steps to ensure that audits conducted are risk-based, that supervision does not disrupt or discourage legitimate NPO activity such as fundraising, and that sanctions applied are proportionate to any violations. South Africa should continue to work on implementing its action plan to address its strategic deficiencies, including by: (1) demonstrating a sustained increase in outbound MLA requests that help facilitate ML/TF investigations and confiscations of different types of assets in line with its risk profile; (2) improving risk-based supervision of DNFBPs and demonstrating that all AML/CFT supervisors apply effective, proportionate, and effective sanctions for noncompliance; (3) ensuring that competent authorities have timely access to accurate and up-to-date BO information on legal persons and arrangements and applying sanctions for breaches of violation by legal persons to BO obligations; (4) demonstrating a sustained increase in law enforcement agencies requests for financial intelligence from the FIC for its ML/TF investigations; (5) demonstrate a sustained increase in investigations and prosecutions of serious and complex money laundering and the full range of TF activities in line with its risk profile; (6) enhancing its identification, seizure and confiscation of proceeds and instrumentalities of a wider range of predicate crimes, in line with its risk profile; (7) updating its TF Risk Assessment to inform the implementation of a comprehensive national counter financing of terrorism strategy; and (8) ensuring the effective implementation of targeted financial sanctions and demonstrating an effective mechanism to identify individuals and entities that meet the criteria for domestic designation. Vietnam will work to implement its FATF action plan by: (1) Increasing risk understanding, domestic co-ordination and co-operation to combat ML/TF; (2) Enhancing international co-operation; (3) Implementing effective risk-based supervision for FIs and DNFBPs; (4) Taking action to regulate virtual assets and virtual asset service providers; (5) Addressing technical compliance deficiencies, including with respect to the ML offence, targeted financial sanctions, customer due diligence and suspicious transaction reporting; (6) Conducting outreach activities with the private sector; (7) Establishing a regime that provides competent authorities with adequate, accurate and up-to-date information on beneficial ownership; (8) Ensuring the independence of the FIU and enhancing the quality and quantity of financial intelligence analysis and disseminations; (9) Prioritizing parallel financial investigations and demonstrating an increase in the number of ML investigations and prosecutions undertaken; (10) demonstrating that there is monitoring of FIs and DNFBPs for compliance with PF TFS obligations and that there is co-operation and co-ordination between authorities to prevent PF TFS from being evaded. Financial crime watchdog adds Croatia to "grey list" of countries - MSN In October 2021, Jordan made a high-level political commitment to work with the FATF and MENAFATF to strengthen the effectiveness of its AML/CFT regime. FATF puts Croatia, Cameroon, Vietnam on 'gray list' Since February 2021, when Senegal made a high-level political commitment to work with the FATF and GIABA to strengthen the effectiveness of its AML/CFT regime, Senegal has established a database to collect statistics and data on ML/TF investigations and prosecutions and enhanced the framework for coordination and conduct of TF investigations. The FATF will continue to monitor the situation and will conduct an on-site visit at the earliest possible date.

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