Understanding the FATF Grey List

In today’s interconnected financial world, regulatory compliance is more than a checkbox, it’s a vital shield protecting firms, investors, and economies from financial crime. One key tool for assessing global money laundering and terrorism financing risks is the Financial Action Task Force (FATF) grey list. But what exactly is it, and why does it matter?

What is the FATF Grey List?

The FATF grey list identifies countries with strategic deficiencies in their anti-money laundering (AML) and counter-terrorist financing (CTF) frameworks. These jurisdictions are under increased monitoring and have committed to addressing the weaknesses flagged by FATF. Unlike the blacklist, the grey list signals cooperation and ongoing reforms, but also highlights elevated risk that requires careful scrutiny. For example, firms dealing with the UK Virgin Islands have had to apply extra diligence due to grey list designation, impacting cross-border transactions and investment decisions.

As of June 2025, the countries on the FATF grey list (jurisdictions under increased monitoring) are:

Algeria, Angola, Bolivia (newly added), Bulgaria, Burkina Faso, Cameroon, Côte d’Ivoire, Democratic Republic of Congo, Haiti, Kenya, Lao People’s Democratic Republic, Lebanon, Monaco, Mozambique, Namibia, Nepal, Nigeria, South Africa, South Sudan, Syria, Venezuela, Vietnam, Virgin Islands (UK) (newly added), Yemen.

Countries recently removed include Croatia, Mali, and the United Republic of Tanzania, reflecting successful reforms.

The Grey List’s Impact Across the Financial Ecosystem

The FATF grey list has far-reaching consequences across the financial system. For banks, insurers, and fintechs, it requires enhanced due diligence on transactions tied to higher-risk jurisdictions. Compliance teams must strengthen monitoring frameworks, while corporates engaged in trade or investment face added scrutiny.

Beyond operations, the grey list heightens both regulatory and reputational risk. Firms that fall short on enhanced measures can face penalties, while any association with grey-listed countries may raise concerns about exposure to financial crime. For investors, insurers, and regulators, the list serves as a critical benchmark for assessing counterparties, market stability, and alignment with international standards. From large financial institutions to SMEs, its implications ripple across due diligence, KYC, and transaction monitoring, shaping how firms manage risk and maintain trust in global markets.

How Verify by Tiller Helps with Grey-Listed Jurisdictions

Navigating grey-listed jurisdictions requires sharper compliance and smarter tools. Verify by Tiller’s AML platform supports this through:

• Instant Screening: Real-time checks on individuals and companies for PEPs, sanctions, adverse media, and address verification.
• Robust Background Checks: Databases updated daily from sources like OFAC, the UN, and HM Treasury.
• Advanced Identity Verification: Biometric facial matching, OCR for global ID documents, and NFC chip capture for e-passports.
• Effortless Liveness Detection: ISO/IEC 30107-3 certified checks that guard against spoofing and deepfakes without user friction.
• Continuous Real-Time Monitoring: Daily updates with automatic alerts and audit-ready reports.
• Configurable Workflows: Risk-aware checks tailored by jurisdiction, risk profile, or compliance needs.
• Bank-Grade Security: Encrypted infrastructure, role-based access, and robust audit trails.

With these capabilities, compliance teams can reduce operational strain, stay aligned with FATF expectations, and engage confidently with clients in higher-risk markets.

Staying Ahead of FATF Grey List Risks

The FATF grey list is more than a regulatory signal, it’s a practical risk indicator that shapes compliance standards across global finance. Firms that understand and adapt to its implications protect not only themselves but also their clients, investors, and the wider financial system.

Verify by Tiller empowers organisations to meet these challenges with precision, combining advanced screening, identity verification, and continuous monitoring in a secure and scalable platform. Stay ahead of FATF grey list developments. ​​Contact us today to strengthen compliance, mitigate risk, and confidently engage with higher-risk jurisdictions.