The Financial Action Task Force (FATF) announced significant changes to its Grey List of jurisdictions under increased monitoring during its February 2025 plenary session.

Key Updates:

Removal of the Philippines: The Philippines has been successfully removed from the FATF Grey List after demonstrating substantial progress in enhancing its anti-money laundering and counter-terrorism financing (AML/CFT) framework.

Additions to Grey List: The FATF has added Laos and Nepal to its Grey List due to identified shortcomings in their AML/CFT frameworks. These jurisdictions are expected to work closely with the FATF to address these issues through targeted action plans.

Jurisdictions on the Grey List are subject to increased monitoring and are required to demonstrate substantial progress in addressing the highlighted strategic deficiencies.

For more information, visit the official FATF publication: FATF Plenary Outcomes February 2025.