FATF Grey List Countries 2022 and Financial Action Task Force Black List

Check out FATF grey list countries 2022 which are non-cooperative in the global fight against money laundering and terrorist financing, Pakistan and Nicaragua has been removed from FATF Grey List, Also check FATF black list of countries which are subjected to high-risk jurisdictions and to a call for action, Along with North Korea and Iran, Myanmar is also included in FATF black list

FATF Grey List 2022:- The countries that are giving shelter to terrorists and criminals, dealing in illegal drugs, human trafficking and supporting terror funding and money laundering activities are put in FATF grey list of Financial Action Task Force. Pakistan and Nicaragua has been removed from FATF grey List and these countries are no longer subject to increased monitoring by the FATF. Myanmar is included in FATF black list as it failed to complete its action plan by October 2022.

The Financial Action Task Force (FATF) is inter-governmental organization which was established in 1989 by a group of G-7 Summit in Paris (France). The main motive of FATF is to guard and monitor the illegal activities like money laundering, terrorist financing, and proliferation financing activities. The Financial Action Task Force has set some FAFT recommendations and standards to prevent and stop organized crime like corruption, terrorism, human trafficking, funding of weapons for mass destruction etc.

Organization Name Financial Action Task Force (FATF)
Formation 1989
Motive Combat money laundering, terrorist financing, and proliferation financing activities.
Headquarters Paris (France)
Member Countries 39+1
President T. Raja Kumar (Singapore)
Vice - President Elisa de Anda Madrazo (Mexico)
Executive SecretaryViolaine Clerc
Deputy Executive SecretaryVincent Schmoll
Official Websitewww.fatf-gafi.org
Financial Action Task Force (FATF) Overview

FATF Grey List 2022 Countries

As on 22 October, there were total 20 countries in the FATF grey list. The countries that are giving shelter to terrorists and criminals dealing in illegal drugs, human trafficking and supporting terror funding and money laundering activities are kept in grey list of FATF. The inclusion in grey list serves as a warning to the country that it may enter the black list of Financial Action Task Force.

The Pakistan first entered the grey list in 2008, then from 2012 to 2015. Pakistan has been in the FATF grey list since June 2018. Now Pakistan has been removed and no longer subject to increased monitoring by the FATF.

The FATF grey List includes Syria, Jamaica, Jordan, South Sudan, many other countries. These countries are subjected to increased Jurisdictions with strategic deficiencies by FATF. The Complete List of Countries in FATF grey List is given below.

  1. Albania
  2. Barbados
  3. Burkina Faso
  4. Cambodia
  5. Cayman Islands
  6. Haiti
  7. Jamaica
  8. Jordan
  9. Mali
  10. Morocco
  11. Myanmar
  12. Panama
  13. Philippines
  14. Senegal
  15. South Sudan
  16. Syria
  17. Turkey
  18. United Arab Emirates
  19. Uganda
  20. Yemen

FATF Black List 2022

The FATF Blacklist was issued by the Financial Action Task Force organization in 2000 and the countries which FATF judges to be non-cooperative in the global fight against money laundering and terrorist financing, are put in this list. The countries which are at high-risk Jurisdiction and non-cooperative countries or territories (NCCTs) are put in the Black List. Currently three countries are in FATF Black List.

  1. North Korea
  2. Iran
  3. Myanmar

To get out of the FATF grey list, a country has to fulfill the tasks recommended by the Financial Action Task Force, for instance, confiscating properties of individuals associated with terrorist groups. If the FATF is satisfied with the progress, it removes the country from the FATF grey list. The FATF most recently took Zimbabwe, and before that Botswana and Mauritius, off the FATF grey list.

List of FATF Member Countries

The FATF has almost 40 member countries and 20 observer organization, it includes regional anti-money laundering bodies (FSRBs), the United Nations, the Egmont Group of Financial Intelligence Units, the International Monetary Fund and many other international organizations. FATF Member Countries list is given below.

ArgentinaJapan
AustraliaRepublic of Korea
AustriaLuxembourg
BelgiumMalaysia
BrazilMexico
CanadaKingdom of Netherlands
ChinaNew Zealand
DenmarkNorway
European CommissionPortugal
FinlandRussian Federation
FranceSaudi Arabia
GermanySingapore
GreeceSouth Africa
Gulf Co-operation CouncilSpain
Hong Kong, ChinaSweden
IcelandSwitzerland
IndiaTurkey
IrelandUnited Kingdom
IsraelUnited States
ItalyIndonesia (FATF Observer)
FATF Members List 2022

List of FATF Observer Organization

  1. African Development Bank
  2. Anti-Money Laundering Liaison Committee of the Franc Zone
  3. Asian Development Bank
  4. Basel Committee on Banking Supervision (BCBS)
  5. Camden Asset Recovery Inter-agency Network (CARIN)
  6. Egmont Group of Financial Intelligence Units
  7. European Bank for Reconstruction and Development (EBRD)
  8. European Central Bank (ECB)
  9. Eurojust
  10. Europol
  11. Group of International Finance Centre Supervisors (GIFCS)
  12. Inter-American Development Bank (IDB)
  13. International Association of Insurance Supervisors (IAIS)
  14. International Monetary Fund (IMF)
  15. International Organization of Securities Commissions (IOSCO)
  16. Interpol
  17. Organization of American States / Inter-American Committee Against Terrorism (OAS/CICTE)
  18. Organization of American States / Inter-American Drug Abuse Control Commission (OAS/CICAD)
  19. Organization for Economic Co-operation and Development (OECD)
  20. Organization for Security and Co-operation in Europe (OSCE)
  21. United Nations
    • United Nations Office on Drugs and Crime (UNODC)
    • United Nations Counter-Terrorism Committee Executive Directorate (UNCTED)
    • The Expert Group to the Security Council Committee
    • The Analytical Support and Sanctions Monitoring Team
    • Security Council Subsidiary Organs Branch
    • Panel of Experts to the Security Council Committee
  22. World Bank
  23. World Customs Organization

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Is India Member of FATF?

Yes, India has been a member country of the Financial Action Task Force since 2010.

Where is the Headquarters of FATF?

The Headquarters of FATF is in Paris, France. Financial Action Task Force was established in 1989 by a group of G-7 Summit in Paris (France)

What is FATF Black List?

FATF Black List is the list of countries that are at High-risk Jurisdiction and Non-Cooperative Countries or Territories (NCCTs). These countries support money laundering, terrorist financing, and proliferation financing activities. Currently, three countries Iran, North Korea and Myanmar are in FATF Black List.

What is FATF Grey List?

FATF Grey List is a list of countries that are involved and supporting activities like money laundering, terrorist financing, and proliferation financing, human trafficking, funding of weapons for mass destruction etc. Currently 20 countries including Albania, Barbados, Burkina Faso, Cambodia, Cayman Islands, Haiti, Jamaica, Jordan, Mali, Morocco, Myanmar, Panama, Senegal, Philippines, South Sudan ,Syria Turkey ,United Arab Emirates, Uganda, Yemen are in FATF grey list.

Is Pakistan in FATF grey List?

No, Pakistan has been removed from FATF grey list on 21 October 2022 and these countries are no longer subject to increased monitoring by the Financial Action Task Force

Which countries are in FATF black list?

Iran, Democratic People's Republic of Korea (DPRK) and Myanmar are in FATF black list. These countries are subjected to high-risk jurisdictions and to a call for action

How many countries are there in FATF Grey List?

There are 20 countries in FATF grey list which are subjected to monitoring by the Financial Actin Task Force. FATF grey List includes Albania, Barbados, Burkina Faso, Cambodia, Cayman Islands, Haiti, Jamaica, Jordan, Mali, Morocco, Myanmar, Panama, Senegal, Philippines, South Sudan ,Syria Turkey ,United Arab Emirates, Uganda, and Yemen. These countries are subjected to increased Jurisdictions with strategic deficiencies by FATF.

Which two countries have removed from FATF Grey List recently on 21 October 2022?

Pakistan and Nicaragua are no longer in FATF grey list.