During the FATF plenary sessions in late February, the organization added the following countries to their “grey list” (i.e., those countries under increased monitoring): Burkina Faso, the Cayman Islands, Morocco and Senegal. Note also that Iceland and Mongolia, due to improvements in their AML/CFT regimes, were removed from the grey list.
Firms that incorporate geographical risk into their AML Risk Models should consider whether updates are warranted. Details regarding changes to the grey list, along with other matters discussed at the plenary session are available here.
