Who runs the FATF?

Marcus Pleyer of Germany assumed the position of President of the FATF on 1 July 2020. He succeeded Xiangmin Liu of the People’s Republic of China. Dr.

What is FATF GREY list?

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. This list is often externally referred to as the “grey list”.

Which country is in blacklist?

As of 21 February 2020, only two countries were on the FATF blacklist: North Korea and Iran.

What are GREY list countries?

The ‘grey list’ means that a country gets limited access to international loans. Specifically, “it means the country has committed to resolving swiftly the identified strategic deficiencies within agreed timeframes and is subject to extra checks”.

What is G7 in FATF?

The G7 created the FATF in 1989 to tackle money laundering. As of today, 198 jurisdictions have committed at the highest level to fully implement the FATF Recommendations on money laundering, terrorist financing and counter proliferation financing.

Is UK a FATF country?

They are Crown Dependencies of the United Kingdom (which is an FATF Member). In October 2012 the Crown Dependencies of the UK became subject to assessment by MONEYVAL, and subject to its follow-up and other procedures and processes.

Is UAE a FATF country?

Although the Gulf Cooperation Council (GCC) is a full Member of the FATF, five of the individual Member countries of the GCC (Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates) are not. Saudi Arabia is an FATF member since June 2019.

Is Turkey in FATF GREY list?

The just-concluded plenary of the FATF has seen Turkey being placed on the ‘grey list’, with a stark warning that the ‘FATF continues to monitor Turkey’s oversight of the NPO sector.