Results of the FATF Plenary Assembly 2024

Updating the list of countries with strategic deficiencies

New countries on the list

The FATF's "grey list" has been updated, with Monaco and Venezuela being added. This means that these countries are under increased scrutiny. They are actively working with the FATF to remedy internal strategic deficiencies in the fight against money laundering and terrorist financing. The countries undertake to implement an action plan. The aim is to rectify the shortcomings identified within the agreed deadlines.

Countries that have been removed from the list

Jamaica and Turkey were removed from the "grey" list. According to the FATF, both countries have made significant progress in addressing strategic deficiencies in the fight against money laundering and terrorist financing.

Urgent call to action for critical jurisdictions

The FATF also regularly identifies countries or jurisdictions with serious strategic deficiencies in their measures against money laundering, terrorist financing and proliferation financing. With regard to these countries, the FATF calls on all member states to take immediate action to protect the international financial system. This so-called "blacklist" currently includes the Democratic People's Republic of Korea, Iran and Myanmar.

In particular, the FATF expresses serious concerns about the Democratic People's Republic of Korea (DPRK), which continues to have significant deficiencies in its AML/CFT system. The FATF emphasises that the DPRK has strengthened its links to the international financial system, which increases the risk of proliferation financing. As a result, the FATF calls for increased due diligence and the renewed implementation and enforcement of countermeasures against the DPRK to respond to these threats.

All other results of the FATF plenary meeting can be found here: Results of the FATF plenary meeting