The February 2026 edition of our High Risk Jurisdiction Guide introduces important regulatory changes following the latest Financial Action Task Force plenary, alongside updates to the EU High Risk Third Countries list.
Two countries added to the FATF Grey List
At the 11 to 13 February 2026 FATF Plenary in Mexico City, two jurisdictions were added to the Grey List:
- Kuwait
- Papua New Guinea
Although Russia was added to the EU High Risk Jurisdiction List in December 2025, it remains outside the FATF Grey List, reinforcing the continuing divergence between EU and FATF designations.
Kuwait
Kuwait’s inclusion follows its 2024 mutual evaluation. While the legal framework is largely in place, FATF identified weaknesses in effective implementation.
Key concerns include:
- Beneficial ownership transparency: Registries must contain accurate and up to date information, with meaningful enforcement where data is false or incomplete.
- Risk-based supervision gaps, particularly in higher risk sectors such as real estate and dealers in precious metals and stones.
- Limited investigative and prosecutorial outcomes, especially relating to cross border cash movements and bearer negotiable instruments.
Kuwait is not currently listed by the EU as a High Risk Third Country.
Papua New Guinea
Papua New Guinea’s September 2024 mutual evaluation identified significant structural weaknesses.
Priority areas include:
- A stronger and formally endorsed national AML/CFT/CPF strategy aligned to identified risks.
- More consistent and demonstrably effective risk-based supervision across banks, money value transfer services, foreign exchange dealers and higher risk DNFBPs.
- Measurable increases in money laundering investigations, prosecutions and asset recovery outcomes.
- Improved international cooperation and stronger implementation of targeted financial sanctions relating to proliferation financing.
Papua New Guinea is also not currently on the EU High Risk Third Countries list.
EU high risk jurisdiction list changes
The February guide reflects several removals from the EU High Risk Third Countries List:
- Burkina Faso – removed
- Mali – removed
- Nigeria – removed
- South Africa – removed
- Tanzania – removed
Wider FATF developments
Beyond the Grey List updates, FATF approved new resources addressing cyber enabled fraud and virtual assets, signalling increased regulatory attention on technology driven financial crime risks.
Giles Thomson, Director of Economic Crime and Sanctions at HM Treasury, was also appointed as the next FATF President.
New: Updated VinciWorks high risk jurisdictions guide
To support compliance teams through these changes, VinciWorks has released an updated edition of our High-Risk Jurisdictions Guide, including:
✔ Every current FATF Grey List and Call for Action jurisdiction
✔ Every jurisdiction on the EU High-Risk Third Countries list
✔ Full historical listing data — who has been listed, when, and why
✔ Risk rating implications for onboarding, CDD and EDD
✔ How to evidence updates in your risk-based approach
This resource gives MLROs, sanctions teams and onboarding units a single source of truth when adjusting controls — without relying on scattered announcements or out-of-date spreadsheets.
Want help updating your policies, onboarding workflows or training content to reflect these changes?
We’re already working with leading firms to implement compliant, risk-based updates, and we can support you too.
Download the updated guide
Get the newly refreshed High-Risk Jurisdictions Guide (February 2026 Edition) today.
