FATF Grey List 13th June 2025 Update: British Virgin Islands, Bolivia Added to the List
FATF Grey List June 2025 Update
The Financial Action Task Force (FATF) is an international body that sets international standards to combat Money Laundering (ML), Terrorism Financing (TF), and Proliferation Financing (PF). It regularly monitors countries to ensure their compliance with its recommendations related to Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT), and Counter-Proliferation Financing (CPF). It publishes two lists, i.e., Grey List and Blacklist and conducts regular reviews and encourages countries to strengthen their anti-financial crime frameworks.
On 13th June 2025, FATF just concluded its plenary session, and here are some of the major changes to note:
In the latest review, FATF removed Croatia, Mali and Tanzania from the Grey List by acknowledging notable progress in strengthening their Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) frameworks.
At the same time, Bolivia and Virgin Islands UK have been added to the grey list, requiring to collaborate with the FATF to enhance their AML/CFT/CPF frameworks.
However, the remaining countries have been retained in the list, signalling the scope for improvement.
Regulatory Action Plan for Obligated Entities Consequent to Changes in FATF grey list dated 13th June 2025
Regulated Entities under Singapore AML/CTF regime need to stay updated with the changes in the FATF Grey List. Regulated Entities should take the following actions to be in compliance with the FATF updates:
- Revise risk matrices to flag Bolivia and Virgin Islands UK related profiles as “higher-risk.”
- Ensure that internal policies and Procedures reflect updated jurisdictional risk ratings.
- Conduct compliance training for frontline staff to make them familiar with updated procedures for dealing with customers originating from grey listed countries.
- Use real-time screening for cross-border and wire transactions.
- Ensure that screening and submission of Suspicious Transaction Report capture high-risks associated with grey-listed countries and escalate per updated list.
Changes in the FATF Grey List in June 2025
Countries Removed from FATF's Grey List (Jurisdictions under Increased Monitoring):
- Croatia
- Mali
- Tanzania
Countries Added to FATF's Grey List (Jurisdictions under Increased Monitoring):
- Bolivia
- Virgin Islands UK
FATF Grey List as of 13th June 2025
1. Algeria
2. Angola
3. Bolivia
4. Bulgaria
5. Burkina Faso
6. Cameroon
7. Côte d’Ivoire
8. Democratic Republic of Congo
9. Haiti
10. Kenya
11. Laos
12. Lebanon
13. Monaco
14. Mozambique
15. Namibia
16. Nepal
17. Nigeria
18. South Africa
19. South Sudan
20. Syria
21. Venezuela
22. Vietnam
23. Virgin Islands (UK)
24. Yemen
Ensure Your AML Controls Align with FATF Expectations.
Start Your Compliance Review Today.