How many countries are in GREY list?
Which are the world’s grey list jurisdictions? There are now 23 countries in the FATF grey list, officially referred to as “jurisdictions with strategic deficiencies”.
What is GREY list country?
The ‘grey list’ means that a country gets limited access to international loans. Specifically, “it means the country has committed to resolving swiftly the identified strategic deficiencies within agreed timeframes and is subject to extra checks”.
What is GREY list in FATF?
When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring. This list is often externally referred to as the “grey list”.
Is India a part of FATF?
The FATF is an inter-governmental body established in 1989 to combat money laundering, terror financing and other related threats to the integrity of the international financial system. India is a member of the FATF consultations and its Asia Pacific Group.
Who runs FATF?
Marcus Pleyer of Germany assumed the position of President of the FATF on 1 July 2020.
What is FATF Greylist?
What is FATF member country?
As of June 2019 there are 36 member countries of FATF….Associate members
- Asia/Pacific Group on Money Laundering (APG)
- Caribbean Financial Action Task Force (CFATF)
- Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG)
- Eurasian Group (EAG)
Is UAE FATF compliant?
Although the Gulf Cooperation Council (GCC) is a full Member of the FATF, five of the individual Member countries of the GCC (Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates) are not. Saudi Arabia is an FATF member since June 2019.
Who controls FATF?
Financial Action Task Force
| Abbreviation | FATF |
|---|---|
| Region served | Europe |
| Membership | 38 |
| Official language | English, French |
| President | Marcus Pleyer |
Is UAE a FATF country?
Is Cayman a FATF country?
According to that Evaluation, The Cayman Islands was deemed Compliant for 22 and Largely Compliant for 17 of the FATF 40 Recommendations. It was deemed Highly effective for 0 and Substantially Effective for 0 of the Effectiveness & Technical Compliance ratings.
Who are the countries on the FATF Blacklist?
Since then, the lists have been issued as part of official FATF statements and reports on a yearly, and sometimes twice-yearly, basis. The current FATF blacklist includes two countries: North Korea and Iran. While it has no direct investigatory powers, the FATF monitors global AML/CFT regimes closely to inform the content of its blacklists.
When was Panama removed from the FATF Blacklist?
The FATF statement issued on 23 October 2015 identified three high-risk and non-cooperative jurisdictions: The FATF statement from 19 February 2016 dropped Panama from its gray list, but there is still the OECD Myanmar from the list identifying two high-risk and non-cooperative jurisdictions:
Who are the countries on the FATF grey list?
New jurisdictions that have been added to the grey list include Haiti, Malta, the Philippines and South Sudan. Although its main focus is on tax crime, OECD is also concerned with money laundering and has complemented the work carried out by the FATF.
When did Pakistan get greylisted by FATF?
Pakistan was greylisted for the first time in 2008 and subsequently from 2012 to 2015. The latest listing happened in June 2018. In its latest statement in February 2020, the FATF directed the country to work on implementing its action plan to address its strategic deficiencies with the following: