OUTCOMES OF FATF PLENARY

On 24 February, FATF advised of the outcome of the weeks’ Plenary –

• Suspending Russia’s membership;
• Discussed and adopted the mutual evaluation report on Indonesia and Qatar;
• Removed Morocco and Cambodia from its Grey List;
• Added Nigeria and South Africa to the Grey List;
• In preparation for the next round of mutual evaluations, the 5^th round, that will commence in 2024, FATF delegations agreed on the sequence of countries to be assessed during the first year of the assessment cycle;
• Finalised a guidance document which will help countries implement the revised requirements of Recommendation 24 on beneficial ownership;
• Approved a report on disrupting the financial flows from ransomware;

Iran and North Korea remain the only countries on the FATF Black List.

https://www.fatf-gafi.org/en/publications/Fatfgeneral/outcomes-fatf-plenary-february-2023.html

https://www.fatf-gafi.org/en/publications/High-risk-and-other-monitored-jurisdictions/Call-for-action-February-2023.html

https://www.fatf-gafi.org/en/publications/Fatfgeneral/fatf-statement-russian-federation.html

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