The Financial Action Task Force (FATF), a global body that monitors money laundering and terrorist financing, has officially removed Nigeria, South Africa, Burkina Faso, and Mozambique from its grey list of countries under increased surveillance.
The FATF explained that these nations were delisted after “successful on-site visits” confirmed that they had completed their action plans and strengthened their systems to combat financial crimes within the agreed timelines.
Being on the grey list means a country has strategic gaps in its efforts to prevent money laundering and terrorism financing but is actively working with the FATF to address them.
With this new development, the four countries will no longer face heightened international monitoring.
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The FATF, which has over 200 member countries and jurisdictions, regularly assesses how well nations implement measures to curb money laundering, terrorism financing, and the spread of weapons.
Currently, the blacklist—which includes nations considered high-risk and uncooperative—consists of Iran, Myanmar, and North Korea.
