FATF grey list
Also called jurisdictions under increased monitoring, FATF gray list
The FATF grey list is the informal name for the Financial Action Task Force's list of jurisdictions under increased monitoring. Countries on it have strategic weaknesses in their anti-money laundering and counter-terrorist financing regimes. Each has agreed an action plan with the FATF to fix them within set timeframes.
How it works
The FATF reviews the list at each of its three plenaries a year, in February, June and October. A country joins after an evaluation finds serious gaps, and leaves once an on-site visit confirms its action plan is complete. Banks and payment firms feed the list into customer risk ratings, country risk scores and transaction monitoring rules.
A listing raises costs for the country's banks and businesses. Since 30 June 2026, UK rules apply mandatory enhanced due diligence on country grounds only to the FATF call for action list, so grey listing feeds each firm's own country risk assessment. The EU keeps its own high-risk third country list, which draws on FATF findings. Removal does not end scrutiny, as firms reassess residual risk.
The rules
The current list after the June 2026 plenary, which added Bosnia and Herzegovina and Iraq and removed Algeria and Namibia.
FATF members and firms using FATF country listsLimits mandatory enhanced due diligence on country grounds to countries on the FATF call for action list, replacing the 2024 link to the increased monitoring list.
UK relevant persons in the regulated sectorSets the EU list of high-risk third countries with strategic AML deficiencies, amended regularly to reflect FATF and Commission assessments.
EU obliged entitiesCommon questions
What is the difference between the grey list and the black list?
The grey list covers jurisdictions under increased monitoring that are working with the FATF on an action plan. The black list, formally high-risk jurisdictions subject to a call for action, covers countries with serious deficiencies where the FATF calls for enhanced due diligence or countermeasures.
How does a country get off the grey list?
It completes the items in its FATF action plan. The FATF then finds the plan substantially complete and sends an on-site team to confirm the reforms are in place. Removal follows at a later plenary.
Does the grey list ban business with listed countries?
No. The FATF does not call for whole countries to be cut off. Listing signals higher risk, and firms apply a risk-based approach. In the UK, mandatory enhanced due diligence on country grounds now covers only the call for action list, so grey listing feeds each firm's own risk assessment.
When is the list next updated?
The FATF holds three plenaries a year, in February, June and October, and publishes list changes at the close of each one. The October 2026 plenary is the first under the UK presidency that the FATF approved in June 2026.
