The Financial Action Task Force (FATF), an intergovernmental body dedicated to combating money laundering and terrorist financing, recently published its updated public statement on high-risk and monitored jurisdictions. This document, released on February 21, 2025, provides important updates on countries and territories that are subject to increased monitoring or have been identified as having strategic deficiencies in their anti-money laundering (AML) and counter-financing of terrorism (CFT) frameworks.
In this latest update, FATF has highlighted both “high-risk jurisdictions subject to a Call for Action” and “jurisdictions under increased monitoring” based on their continued efforts or lack thereof in addressing AML/CFT deficiencies. These classifications are essential for FATF’s global work in promoting financial integrity and ensuring the safety of international financial systems. FATF has urged its members and other countries to remain attentive to the guidance issued in its February 2020 and October 2022 statements and to adhere to its continued calls for action.
Jurisdictions Under Increased Monitoring
FATF has identified a number of jurisdictions with strategic AML/CFT deficiencies that have committed to improving their systems. These countries are under what is called “increased monitoring,” meaning they are actively working with FATF to implement the necessary reforms. The jurisdictions currently under increased monitoring include:
- Algeria
- Angola
- Bulgaria
- Burkina Faso
- Cameroon
- Côte d’Ivoire
- Croatia
- Democratic Republic of the Congo
- Haiti
- Kenya
- Lao PDR
- Lebanon
- Mali
- Monaco
- Mozambique
- Namibia
- Nepal
- Nigeria
- South Africa
- South Sudan
- Syria
- Tanzania
- Venezuela
- Vietnam
- Yemen
Coutries on this list are actively cooperating with FATF and are making progress toward addressing the identified deficiencies. However, FATF will continue to monitor their progress and ensure that necessary steps are taken to strengthen their AML/CFT frameworks.
The FATF’s public statement clarifies that the inclusion or removal of a jurisdiction from these lists does not prevent licensed, recognized, or authorized entities from engaging in legitimate trade and business transactions with these countries. While the FATF’s recommendations must be taken into account for compliance purposes, they do not necessarily result in restrictions on trade and business.
As global efforts continue to combat illicit financial activities, FATF’s ongoing work is crucial in maintaining a secure and transparent international financial environment.
