Financial Action Task Force Prepares to Remove Monaco and Other Countries from Grey List
During the FATF plenary meeting in Paris, the removal of Monaco, Bulgaria, and Côte d'Ivoire from the grey list is under evaluation.
While the Financial Action Task Force is preparing to remove Monaco, Bulgaria, and Côte d'Ivoire from the grey list, official results are not expected to be announced until the end of the plenary meeting in October.
Plenary Process and Expectations
The Financial Action Task Force expects official results to be announced by the final day of its upcoming plenary meeting in Paris, France, on October 30.
No final decision has been taken within the organization yet, and the entire process is conducted based on consensus among member countries.
Principles for List Decisions
Critical decisions regarding the inclusion of countries in the grey or black lists, or their removal from the lists, are determined based on consensus.
During this process, member countries including the United States, the United Kingdom, the European Commission, China, Japan, and India exhibit a joint approach.
Impact of the Grey List on Investments
Global investors, who avoid doing business in countries where deficiencies are identified in anti-money laundering regulations, are closely monitoring the process.
A report published by the International Monetary Fund in 2021 found that countries on the grey list experienced a decline in capital inflows.
New Era and Combatting Financial Crimes
The plenary meeting to be held in October will be the first plenary chaired by UK official Giles Thomson.
Since taking over the role in July, Giles Thomson has prioritized financial crimes, including scam centers and the financing of international fraud.