Following the FATF’s plenary at the end of February 2025, VinciWorks has released its updated guide for all of the high risk jurisdictions for money laundering. This guide includes all of the jurisdictions subject to increased FATF monitoring, alongside countries on the EU’s High Risk Third Countries.
This guide also includes those jurisdictions which have recently been removed from international lists. For a comprehensive approach to money laundering compliance, it is advisable to factor in decisions of international bodies when conducting due diligence.
In the February 2025 FATF plenary, the Philippines was removed from the Grey List. Laos and Nepal were added to the Grey List. This guide contains detailed information on the AML challenges facing these countries, why they were grey listed, and what they must do to be removed.
The FATF voted to revise their standards to take better account of the 1.4 billion people in the world who do not have a bank account. The changes encourage financial institutions to apply simplified measures where the risks are lower.
A report into the financial aspects of child sexual exploitation was approved, and aims to better detect financial transactions of offenders and abusers.
