British Virgin Islands, Bolivia Placed on FATF’s Grey List: 13th June 2025

The Financial Action Task Force (FATF) is a global watchdog of Money Laundering, Terrorism Financing, and Proliferation Financing. It establishes International Standards for Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT), and Counter-Proliferation Financing (CPF) regimes.

On 13^th June 20225 FATF just concluded its plenary session, and here are some of the major changes to note: in this plenary, FATF announced that

• Croatia
• Mali
• Tanzania

have been removed from the Grey List, reflecting notable progress in strengthening their Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) frameworks.

At the same time,

• Bolivia
• Virgin Islands UK

have been added to the grey 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.

Key Action Points for Reporting Entities in Australia

Reporting Entities under Australia’s AML/CTF regime need to stay updated with the changes in the FATF Grey List.

Reporting entities should take the following actions to be in compliance with the FATF updates:

• ML/TF Risk Assessment: Review geographic risk exposure in light of FATF list changes.
• AML/CFT/CPF Policies and Controls: Ensure that internal policies and Procedures reflects updated jurisdictional risk ratings.
• Customer Due Diligence (CDD): Apply Enhanced Due Diligence (EDD) for clients with links to grey-listed jurisdictions.
• AML Software Configuration: Update system to detect and escalate high-risk transactions involving affected countries.

Croatia, Mali, Tanzania Removed, Bolivia and Virgin Islands (UK) Added: FATF Grey List Update 13th June 2025

Countries Removed from FATF’s Grey List (Jurisdictions under Increased Monitoring):

• Croatia
• Mali
• Tanzania

Countries Added to FATF’s Grey List (Jurisdictions under Increased Monitoring):

• Bolivia
• Virgin Islands UK

FATF Grey List as of 13^th June 2025

1. Algeria
2. Angola
3. Bolivia
4. Bulgaria
5. Burkina Faso
6. Cameroon
7. Côte d’Ivoire
8. Democratic Republic of Congo
9. Haiti
10. Kenya
11. Laos
12. Lebanon
13. Monaco
14. Mozambique
15. Namibia
16. Nepal
17. Nigeria
18. South Africa
19. South Sudan
20. Syria
21. Venezuela
22. Vietnam
23. Virgin Islands (UK) 
24. Yemen