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 5th 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.





Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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