{"id":67676,"date":"2023-11-23T15:09:45","date_gmt":"2023-11-23T12:09:45","guid":{"rendered":"https:\/\/ondatolive.wpenginepowered.com\/?p=67676"},"modified":"2025-11-28T17:15:30","modified_gmt":"2025-11-28T14:15:30","slug":"fatf-grey-black-list","status":"publish","type":"post","link":"https:\/\/ondato.com\/pl\/blog\/fatf-grey-black-list\/","title":{"rendered":"FATF Grey List and Blacklist Explained 2024"},"content":{"rendered":"\n<p>It is no secret that certain countries adhere to stricter Anti-Money Laundering (AML) regulations than others. To ensure regulations around the world are fair, three times a year, the Financial Action Task Force (FATF) publishes two lists of jurisdictions that it considers to have strategic deficiencies in their AML and Counter-Terrorist Financing (CTF) regimes. Today, we will look at these lists and how they affect your business.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/ondato.com\/book\/\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"299\" src=\"https:\/\/ondato.com\/wp-content\/uploads\/2024\/06\/v04_2024-03_FATF-2023_Banner-1-1024x299.webp\" alt=\"AML tools that keep you compliant\" class=\"wp-image-107601\" srcset=\"https:\/\/ondato.com\/wp-content\/uploads\/2024\/06\/v04_2024-03_FATF-2023_Banner-1-1024x299.webp 1024w, https:\/\/ondato.com\/wp-content\/uploads\/2024\/06\/v04_2024-03_FATF-2023_Banner-1-300x88.webp 300w, https:\/\/ondato.com\/wp-content\/uploads\/2024\/06\/v04_2024-03_FATF-2023_Banner-1-768x224.webp 768w, https:\/\/ondato.com\/wp-content\/uploads\/2024\/06\/v04_2024-03_FATF-2023_Banner-1.webp 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-countries-on-the-fatf-blacklist-nbsp\">Countries on the FATF Blacklist&nbsp;<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/ondato.com\/wp-content\/uploads\/2023\/11\/v02_2023-11_FATF-2023_Figure-1-1-1024x576.webp\" alt=\"Countries on the FATF blacklist\" class=\"wp-image-67786\" srcset=\"https:\/\/ondato.com\/wp-content\/uploads\/2023\/11\/v02_2023-11_FATF-2023_Figure-1-1-1024x576.webp 1024w, https:\/\/ondato.com\/wp-content\/uploads\/2023\/11\/v02_2023-11_FATF-2023_Figure-1-1-300x169.webp 300w, https:\/\/ondato.com\/wp-content\/uploads\/2023\/11\/v02_2023-11_FATF-2023_Figure-1-1-768x432.webp 768w, https:\/\/ondato.com\/wp-content\/uploads\/2023\/11\/v02_2023-11_FATF-2023_Figure-1-1.webp 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>As of June 2024, the <a href=\"https:\/\/www.fatf-gafi.org\/content\/fatf-gafi\/en\/publications\/High-risk-and-other-monitored-jurisdictions\/increased-monitoring-june-2024.html\">FATF blacklist<\/a>, made up of high-risk jurisdictions subject to <a href=\"https:\/\/ondato.com\/blog\/enhanced-due-diligence\/\">enhanced due diligence<\/a>, includes just three jurisdictions:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-democratic-people-s-republic-of-korea\">Democratic People\u2019s Republic of Korea<\/h3>\n\n\n\n<p>The FATF remains concerned by the DPRK\u2019s failure to address the significant deficiencies in its anti-money laundering and combating the financing of terrorism regime and the serious threats they pose to the integrity of the international financial system.&nbsp;<\/p>\n\n\n\n<p>The FATF\u2019s statement on DPRK has not changed since 2011, when it called on the FATF member nations and urged all jurisdictions to give special attention to business relationships and transactions with the DPRK, including DPRK companies, financial institutions, and those acting on their behalf. In addition to enhanced scrutiny, the FATF further calls on its members and urges all jurisdictions to apply effective counter-measures.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-iran\">Iran<\/h3>\n\n\n\n<p>In 2016, Iran committed to address its strategic deficiencies. However, the action plan has since expired without completion. Therefore, in October 2019, the FATF called upon its members and urged all jurisdictions to: require increased supervisory examination for branches and subsidiaries of financial institutions based in Iran; introduce enhanced relevant reporting mechanisms or systematic reporting of financial transactions; require increased external <a href=\"http:\/\/Conduct Regular Security Audits\">audit requirements <\/a>for financial groups with respect to any of their branches and subsidiaries located in Iran.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-myanmar\">Myanmar<\/h3>\n\n\n\n<p>In 2020, Myanmar committed to address its strategic deficiencies. This action plan expired in September 2021.<\/p>\n\n\n\n<p>Given the continued lack of progress and the majority of its action items still not addressed, the FATF decided that further action was necessary in line with its procedures, and it calls on its members and other jurisdictions to apply enhanced due diligence measures proportionate to the risk arising from Myanmar. When applying enhanced due diligence measures, countries should ensure that flows of funds for humanitarian assistance, legitimate NPO activity and remittances are not disrupted.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-countries-on-the-fatf-grey-list-nbsp\">Countries on the FATF Grey List&nbsp;<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/ondato.com\/wp-content\/uploads\/2024\/07\/v05_2024-07_FATF-2023_Figure-2-1-1024x576.webp\" alt=\"Countries on the FATF grey list \" class=\"wp-image-120686\" srcset=\"https:\/\/ondato.com\/wp-content\/uploads\/2024\/07\/v05_2024-07_FATF-2023_Figure-2-1-1024x576.webp 1024w, https:\/\/ondato.com\/wp-content\/uploads\/2024\/07\/v05_2024-07_FATF-2023_Figure-2-1-300x169.webp 300w, https:\/\/ondato.com\/wp-content\/uploads\/2024\/07\/v05_2024-07_FATF-2023_Figure-2-1-768x432.webp 768w, https:\/\/ondato.com\/wp-content\/uploads\/2024\/07\/v05_2024-07_FATF-2023_Figure-2-1.webp 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Since the last Grey list publication, two jurisdictions have made enough progress to leave the list and they are Jamaica and T\u00fcrkiye.<\/p>\n\n\n\n<p>The FATF grey list, which includes jurisdictions currently working on eliminating their strategic deficiencies, is made up of 21 countries:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>\ud83c\udde7\ud83c\uddec Bulgaria<\/td><td>\ud83c\uddf2\ud83c\uddf1 Mali<\/td><td>\ud83c\uddff\ud83c\udde6 South Africa<\/td><\/tr><tr><td>\ud83c\udde7\ud83c\uddeb Burkina Faso<\/td><td><strong>\ud83c\uddf2\ud83c\udde8<\/strong> Monaco<\/td><td>\ud83c\uddf8\ud83c\uddf8 South Sudan<\/td><\/tr><tr><td>\ud83c\udde8\ud83c\uddf2 Cameroon<\/td><td>\ud83c\uddf2\ud83c\uddff Mozambique<\/td><td>\ud83c\uddf8\ud83c\uddfe Syria<\/td><\/tr><tr><td>\ud83c\udded\ud83c\uddf7 Croatia<\/td><td>\ud83c\uddf3\ud83c\udde6 Namibia<\/td><td>\ud83c\uddf9\ud83c\uddff Tanzania<\/td><\/tr><tr><td>\ud83c\udde8\ud83c\udde9 DR of Congo<\/td><td>\ud83c\uddf3\ud83c\uddec Nigeria<\/td><td><strong>\ud83c\uddfb\ud83c\uddea<\/strong>&nbsp; Venezuela<\/td><\/tr><tr><td>\ud83c\udded\ud83c\uddf9 Haiti<\/td><td>\ud83c\uddf5\ud83c\udded Philippines<\/td><td>\ud83c\uddfb\ud83c\uddf3 Vietnam<\/td><\/tr><tr><td>\ud83c\uddf0\ud83c\uddea Kenya <\/td><td>\ud83c\uddf8\ud83c\uddf3 Senegal<\/td><td>\ud83c\uddfe\ud83c\uddea Yemen<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-grey-list-vs-black-list\">Grey List vs Black List<\/h2>\n\n\n\n<p>FATF\u2019s blacklist recognises jurisdictions with significant strategic shortcomings in their efforts to combat <a href=\"https:\/\/ondato.com\/blog\/examples-of-money-laundering\/\">money laundering<\/a> and <a href=\"https:\/\/ondato.com\/blog\/terrorist-financing\/\">terrorist financing<\/a>. The FATF requests that all members and jurisdictions apply enhanced due diligence to all countries on the blacklist. In the most extreme circumstances, countries are also asked to implement counter-measures to safeguard the international financial system against ongoing risks.&nbsp;<\/p>\n\n\n\n<p>FATF\u2019s grey list, however, identifies countries that are actively working with FATF to improve their AML processes and address strategic deficiencies in their systems. To be included on a grey list, a country must agree to an action plan. These plans involve several steps, such as national <a href=\"https:\/\/ondato.com\/blog\/aml-risk-assessment\/\">risk assessment<\/a>, political commitment to work on the effectiveness of its <a href=\"https:\/\/ondato.com\/blog\/anti-money-laundering-compliance\/\">AML<\/a> and counter-terrorism financing measures. Countries on these lists are given a timeframe to improve and are continuously monitored by the FATF.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-do-the-lists-affect-your-business\">How do the Lists Affect Your Business?<\/h2>\n\n\n\n<p>To combat the dire financial crime situation, the FATF calls for enhanced due diligence and urges everyone to take necessary measures to close existing branches, subsidiaries and representative offices in blacklisted countries, as well as terminate correspondent relationships with the financial institutions in blacklisted countries.<\/p>\n\n\n\n<p>As for the grey list, The FATF does not call for the application of enhanced due diligence measures to be applied to these jurisdictions. Instead, they call for the application of a risk-based approach. Therefore, the FATF encourages its members and all jurisdictions to take grey-listed countries into account in their risk analysis.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-are-the-fatf-lists-necessary\">Why are the FATF Lists Necessary?<\/h2>\n\n\n\n<p>These lists are essentially a way for FATF to encourage countries to strengthen the effectiveness of their anti-money laundering and counter-terrorist financing measures. On top of protecting and keeping businesses informed, the FATF\u2019s process to publicly list countries with weak AML\/CFT regimes has proven effective. As of June 2024, the FATF has reviewed over 133 countries and jurisdictions. Of these, 84 have since made the necessary reforms to address their AML\/CFT weaknesses and have been removed from the process.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/ondato.com\/book\/\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"183\" src=\"https:\/\/ondato.com\/wp-content\/uploads\/2024\/06\/v04_2024-03_FATF-2023_Banner-2-1024x183.webp\" alt=\"Ondato tools to help you avoid blacklisted countries\" class=\"wp-image-107603\" srcset=\"https:\/\/ondato.com\/wp-content\/uploads\/2024\/06\/v04_2024-03_FATF-2023_Banner-2-1024x183.webp 1024w, https:\/\/ondato.com\/wp-content\/uploads\/2024\/06\/v04_2024-03_FATF-2023_Banner-2-300x54.webp 300w, https:\/\/ondato.com\/wp-content\/uploads\/2024\/06\/v04_2024-03_FATF-2023_Banner-2-768x137.webp 768w, https:\/\/ondato.com\/wp-content\/uploads\/2024\/06\/v04_2024-03_FATF-2023_Banner-2.webp 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-ondato-helps-you-stay-compliant\">How Ondato Helps You Stay Compliant<\/h2>\n\n\n\n<p>Adhering to FATF recommendations protects both your business and the overall economy from financial crime. At Ondato, we want to help you achieve this, which is why our solutions allow you to stay compliant with even the strictest AML regulations, such as FINMA in Switzerland. With this, we also ensure you can avoid doing business with blacklisted jurisdictions, include customer due diligence, transaction and <a href=\"https:\/\/ondato.com\/aml-software\/\">AML monitoring solutions<\/a>.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It is no secret that certain countries adhere to stricter Anti-Money Laundering (AML) regulations than others. To ensure regulations around the world are fair, three times a year, the Financial Action Task Force (FATF) publishes two lists of jurisdictions that it considers to have strategic deficiencies in their AML and Counter-Terrorist Financing (CTF) regimes. Today, [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":67687,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[12,78],"tags":[],"class_list":["post-67676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-regulations"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.6 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>FATF Grey &amp; Black List 2024: Countries &amp; Business Impact | Ondato<\/title>\n<meta name=\"description\" content=\"Understand the FATF grey and blacklist in 2024. See which countries are listed and learn how these sanctions impact global businesses and compliance.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ondato.com\/pl\/blog\/fatf-grey-black-list\/\" \/>\n<meta property=\"og:locale\" content=\"pl_PL\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FATF Grey List and Blacklist Explained 2024\" \/>\n<meta property=\"og:description\" content=\"Understand the FATF grey and blacklist in 2024. 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