FATF’s AML/CFT watchlist adds Bulgaria, drops 4 others

Bulgaria

Bulgaria is the latest country to be identified by the Financial Action Task Force (FATF) as a jurisdiction under increased monitoring for money laundering and terrorist and proliferation financing.

The FATF announced updates to its so-called “grey list” on Friday. While Bulgaria was the lone country added, four others—Albania, the Cayman Islands, Jordan, and Panama—were removed after satisfying certain recommendations put forward by the global money laundering and terrorism financing watchdog.

“Jurisdictions under increased monitoring are actively working with the FATF to address strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing,” said the organization. “When the FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring.”

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