FATF revises grey list: Algeria, Namibia exit; Bosnia and Iraq join, while Iran, North Korea and Myanmar stay blacklisted
Executive summary: The FATF removed Algeria and Namibia from its grey list and added Bosnia-Herzegovina and Iraq, while Iran, North Korea and Myanmar remain on the blacklist. The change alters AML/CFT risk classifications, affecting compliance obligations for banks and governments, and may influence investor perception of the listed jurisdictions.
Who is involved: Financial Action Task Force (FATF), Algeria, Namibia, Bosnia-Herzegovina, Iraq.
Likely next: Further monitoring of remaining blacklisted jurisdictions, possible future list revisions, and increased compliance scrutiny by financial institutions.
The Financial Action Task Force updated its grey list, removing Algeria and Namibia and adding Bosnia-Herzegovina and Iraq, while confirming that Iran, North Korea and Myanmar remain on the blacklist. The change revises AML/CFT risk classifications for the affected jurisdictions and signals heightened scrutiny on jurisdictions perceived as less cooperative. Financial institutions will need to adjust monitoring and reporting practices accordingly.
Analysis — what this means
Likely next events
- Banks intensify AML checks on remaining grey‑list jurisdictions
- Investor sentiment toward Iran’s market could shift if peace talks advance
Sectors affected
- Banking
- FinTech
- International Trade
- Compliance Services
Regulatory implications
- Enhanced monitoring of high‑risk jurisdictions
- Potential updates to EU AML directives
- Greater diplomatic pressure on listed countries to meet FATF standards
Historical parallels
- 2019 FATF revision that removed Pakistan and Trinidad & Tobago
- Early 2000s removal of Israel after reforms
Key entities
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