FATF leaves Russia's status unchanged, removes Burkina Faso, Mozambique, Nigeria, South Africa from grey list

MOSCOW. Oct 27 (Interfax) - The Financial Action Task Force (FATF) has removed Burkina Faso, Mozambique, Nigeria and South Africa from the so-called grey list of jurisdictions under increased FATF monitoring; Russia's status remains the same: its FATF membership is suspended, the Federal Financial Monitoring Service (Rosfinmonitoring) said on Telegram on Friday.

The group held a plenary week in Paris on October 20-24.

Now the grey list comprises 20 jurisdictions: Algeria, Angola, Bolivia, Bulgaria, Vietnam, Venezuela, Haiti, Democratic Republic of Congo, Yemen, Cameroon, Kenya, Ivory Coast, Laos, Lebanon, Monaco, Namibia, Nepal, South Sudan, Syria and the British Virgin Islands.

The so-called black list of high-risk jurisdictions, including North Korea, Iran and Myanmar, has remained unchanged.

FATF suspended Russia's membership on February 24, 2023. Since then this status has not changed and the country has appeared neither on the grey, nor black lists.

Russia was removed from the FATF black list in September 2002 after the first assessment of compliance by the Russian Anti-Laundering Money/Countering the Financing of Terrorism (ALM/CFT) system with international standards. On June 19, 2003, after a second assessment in April of that year, Russia became a FATF member. In 2008 FATF held a third round of mutual assessment of the Russian ALM/CFT system. Starting from 2010 Russia regularly reported on its progress in improving the national ALM/CFT system at FATF plenary sessions.