The Financial Action Task Force (FATF) is an intergovernmental organization that develops and promotes policies to combat money laundering and terrorist financing. The FATF operates a “greylist” of countries that have deficiencies in their anti-money laundering and counter-terrorist financing frameworks, but are not yet fully compliant with FATF standards. These countries are monitored by the FATF and are required to take steps to address their deficiencies.
The purpose of the greylist is to incentivize countries to improve their frameworks and bring them into compliance with international standards. The FATF works closely with countries on the greylist to provide technical assistance and support to help them address their deficiencies.
Countries that fail to address their deficiencies may be added to the FATF’s “blacklist” of non-cooperative jurisdictions.
This page was last updated on January 7, 2023.