What is the FATF Grey List?
The Financial Action Task Force (FATF) is an intergovernmental organization founded in 1989 with the mission to standardize anti-money laundering (AML) efforts internationally. As part of this mission, FATF issues the Jurisdictions Under Increased Monitoring list, informally known as the “Grey List.” The jurisdictions on the Grey List have committed to actively working with the FATF to address deficiencies within an agreed upon timeframe to help counter money laundering, terrorist financing, and proliferation financing.
As of June 2025, the jurisdictions currently on the Grey List are:
| Algeria | Haiti | Nigeria |
| Angola | Kenya | South Africa |
| Bolivia | Lao People’s Democratic Republic | South Sudan |
| Bulgaria | Lebanon | Syria |
| Burkina Faso | Monaco | Venezuela |
| Cameroon | Mozambique | Vietnam |
| Côte d’Ivoire | Namibia | Virgin Islands (UK) |
| Democratic Republic of Congo | Nepal | Yemen |
Why is the FATF Grey List important?
Global investigators and regulators put their trust in the FATF organization to standardize elements of anti-money laundering and the Grey List is no exception. The FATF works closely with jurisdictions on the list to ensure progress is made on addressing their AML deficiencies. The organization is also consistently reviewing countries not on the list to ensure the validity of the list.
Working with countries on the Grey List is seen as potentially risky and worthy of closer scrutiny. While the FATF does not explicitly call for enhanced due diligence to be applied to these countries, being “grey-listed” can negatively impact the relationship of the named countries with international funders, including banks and financial institutions, as well as existing and potential overseas investors. Likewise, countries that are removed from the list receive reputational boosts from the international community once the FATF determines that the country has completed its due diligence.
>> Learn how to discover ultimate beneficial ownership in offshore jurisdictions <<
What is the latest news on the FATF Grey List?
Major news on the FATF Grey List is generally when a country is added or removed from the list. Year-to-date in 2025, the FATF has added Bolivia and the Virgin Islands (UK). Croatia, Mali, the Philippines, and the United Republic of Tanzania were removed from the Grey List in recognition of their positive progress in addressing AML/CFT deficiencies.
The FATF provides some flexibility to jurisdictions not facing immediate deadlines to report progress on a voluntary basis. Since February 2025, the FATF has reviewed the following jurisdictions on their progress: Angola, Bulgaria; Burkina Faso, Cameroon, Côte d’Ivoire, Croatia, Democratic Republic of the Congo, Haiti, Kenya, Mali, Monaco, Mozambique, Namibia, Nigeria, South Africa, South Sudan, Tanzania, Venezuela, and Vietnam.
How can I more closely monitor jurisdictions on the FATF Grey List?
Whether you’re working for a financial institution looking to meet compliance requirements or a government investigator tracking down illicit actors, information is the key to success with AML.
When investigating transactions from a jurisdiction on the Grey List, public records are critical to uncovering risk.
Sayari Graph utilizes open source records and graph technology to map out connections and establish links between illicit financial actors, their infrastructure, and related business structures and transactions.
To learn more about combatting money laundering, read our report Real Estate Money Laundering (REML): Typologies and Emerging Countermeasures.
