Changes to the FATF Grey List

Hot off the press!

On 21 February the Financial Action Task Force (FATF) announced changes to the Grey List (countries with strategic deficiencies in their AML regimes and which are under increased FATF monitoring).

Added to the Grey List: Nepal and Laos

Removed from the Grey List: the Philippines

If you act for clients in any of these jurisdictions, remember:

• amend your Firm Wide Risk Assessment
• carry out Enhanced Due Diligence for any clients established in Nepal or Laos and complete an Ongoing Monitoring report
• ensure your team are aware of the changes