The Financial Action Task Force (FATF) has removed Monaco, Bulgaria, the Democratic Republic of Congo and Ivory Coast from its “grey list” of jurisdictions under increased monitoring. Dawn, citing AFP, and the Malay Mail reported the decision after the watchdog’s plenary meeting in Paris on Friday.
The four countries had completed their promised action plans and will no longer be subject to the FATF’s increased monitoring process, the Paris-based watchdog said. Monaco had been on the list for two years, Bulgaria since 2023, DR Congo since 2022 and Ivory Coast since 2024. No new jurisdiction was added, leaving 18 countries on the grey list, including Bosnia, Bolivia, Iraq, Syria, Yemen and the British Virgin Islands.
The grey list is not a sanctions list, but it shapes how banks and businesses assess risk when dealing with a country. Removal eases that scrutiny, though regulators stress it does not automatically mean a jurisdiction is low-risk.
Sources: Dawn (AFP), Malay Mail (AFP). Written in our own words for information only.