Rabat – The Financial Action Task Force (FATF) has officially added Algeria, Angola, Ivory Coast, and Lebanon to its “grey list,” placing these countries under increased scrutiny for money laundering risks.
The designation subjects these countries to closer monitoring for compliance with anti-money laundering standards. Meanwhile, FATF removed Senegal from the list after a plenary meeting in Paris this week.
FATF President Elisa de Anda Madrazo acknowledged Lebanon’s “extremely severe situation,” noting that its grey list status should not obstruct humanitarian aid efforts.
Lebanon has been grappling with a financial crisis since 2019, worsened by inaction from its leaders and now compounded by increasing Israeli air strikes and ground operations targeting Hezbollah.
She clarified that the FATF is not mandating increased diligence or countermeasures, working instead to keep relief channels open for Lebanon. Madrazo added that “some flexibility” has been extended to Lebanon on action plan deadlines, expressing condolences for recent regional losses.
Noting that grey listing is not punitive but a pathway for countries to strengthen their frameworks, she noted, “All these countries have actively collaborated with regional bodies and the FATF to develop an action plan.”
In contrast, Senegal was removed from the grey list following a FATF assessment in August, which recognized substantial progress, particularly in corruption-related anti-money laundering efforts. No additions were made to the FATF’s “blacklist,” which currently includes Iran, North Korea, and Myanmar.
The meeting, the first under Madrazo’s leadership, gathered delegates from over 200 FATF member nations and observer organizations, including the IMF, United Nations, World Bank, Interpol, and the Egmont Group of Financial Intelligence Units.
The Cayman Islands and Senegal were also invited as guests to the plenary and FATF working groups, a move described by FATF as a “significant step” toward broadening the organization’s inclusivity and diversity of perspectives.
