FATF adds the Virgin Islands and Bolivia to its money laundering ‘gray list’
"Croatia, Mali and Tanzania completed their action plan within the indicated timeframe," the Paris-based international organization reported.
A money counting machine with dollars.
The Financial Action Task Force (FATF), which fights money laundering and terrorism financing, on Friday added Bolivia and the British Virgin Islands to its "gray list" of countries under enhanced surveillance, and removed Mali, Croatia and Tanzania.
"Croatia, Mali and Tanzania completed their action plan within the indicated timeframe," the Paris-based international organization reported.
What does it mean to be on the gray list?
It may also imply consequences for the countries targeted such as increased scrutiny of international transactions, possible additional costs on remittances and other transactions, increased pressure to implement compliance measures, as well as possible restrictions on financial cooperation with other jurisdictions.
Some of the jurisdictions that were on the gray list in February 2025 were Bulgaria, Burkina Faso, Cameroon, Croatia, Democratic Republic of Congo, Haiti, Kenya, Laos, Nepal, and the Philippines.
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EU "money laundering" black list
The European Union on Tuesday this week added 10 countries, including Venezuela and Monaco, to its list of "high risk" jurisdictions for money laundering, and removed Panama.
Algeria, Angola, Côte d'Ivoire, Kenya, Laos, Lebanon, Monaco, Namibia, Nepal and Venezuela were added to the list, while Panama, Jamaica, the United Arab Emirates (UAE), Barbados, Gibraltar, the Philippines, Senegal and Uganda were removed.
These countries must "apply greater vigilance in transactions. This is important to protect the EU's financial system," the European Commission, the bloc's executive branch, explained in a statement.
The Commission "has carried out a thorough technical assessment, based on specific criteria and a well-defined methodology, incorporating information" gathered from the Financial Action Task Force (FATF).
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