Following the FATF’s plenary at the end of October 2024, 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 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 October 2024 plenary, Senegal was removed from the FATF grey list. Four new countries were added to the grey list. These are Algeria, Angola, Côte d’Ivoire and Lebanon. 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.
During the plenary, Ukraine attempted to add Russia to the Black List alongside Iran and North Korea, but this was blocked by several members including China, India, Saudi Arabia and South Africa. The FATF also adopted new risk-focused standards for mutual evaluation reports, aimed at reducing grey listing for developing economies while ensuring countries with more advanced systems are held to higher standards.
Download the guide here.
