The Financial Action Task Force (FATF) has released an updated list of jurisdictions under increased monitoring, popularly known as the Grey List.
As part of this update, the Philippines has been removed from the FATF Grey List published in February 2025, depicting a forward trend in Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) controls adopted by it.
At the same time, Laos and Nepal have been added to the list, requiring them to address the strategic deficiencies in their regulatory regime to counter Money Laundering, Terrorism Financing, and Proliferation Financing (ML, TF, and PF) activities.
However, the remaining countries have been retained in the list, signalling the scope for improvement.
This update requires the regulated entities to reconsider their Internal Policies, Procedures and Controls (IPPC) to ensure that adequate Customer Due Diligence measures are applied while engaging with customers from or closely associated with the countries newly added to the FATF Grey List.
Changes in FATF Grey List
Countries Removed from FATF’s Grey List (Jurisdictions Under Increased Monitoring):
- Philippines
Countries Added to FATF’s Grey List (Jurisdictions under Increased Monitoring):
- Laos
- Nepal
FATF Grey List as of 21st February 2025
- Algeria
- Angola
- Bulgaria
- Burkina Faso
- Cameroon
- Côte d’Ivoire
- Croatia
- Democratic Republic of Congo
- Haiti
- Kenya
- Laos
- Lebanon
- Mali
- Monaco
- Mozambique
- Namibia
- Nepal
- Nigeria
- South Africa
- South Sudan
- Syria
- Tanzania
- Venezuela
- Vietnam
- Yemen
