FATF Removes Four Nations From Grey List
The global financial crime watchdog removed Bulgaria, Ivory Coast, the Democratic Republic of Congo and Monaco from its grey list. Meanwhile, Vietnam remained under scrutiny for delayed reforms while Myanmar and Iran stayed on the blacklist.
The global financial crime watchdog removed four jurisdictions from its grey list on Friday while putting Vietnam on notice for slow reforms. The Financial Action Task Force dropped Bulgaria, Ivory Coast, the Democratic Republic of the Congo, and Monaco after reviewing their anti-money laundering progress. While grey-list status does not trigger formal sanctions, it increases transaction scrutiny and drives up borrowing costs for local institutions.
