FATF (Financial Action Task Force) announced on Friday that it had put Cameroon, Croatia and Vietnam on Grey list. The three countries join 23 others on the list which are actively working with FATF to counter money laundering and terrorist financing.
The announcement came on the final day of the FATF’s plenary meeting in Paris.
The 39 member Paris based body has a grey list of countries requiring closer monitoring and a black list of nations classed high-risk.
No changes were made to the FATF black list, which for the moment includes three countries: Iran, Myanmar and North Korea. It recommends that countries in this last category should be subject to much closer scrutiny.
More than 200 countries and jurisdictions have agreed to implements the FATF’s standards in this area.
Its recommendations include actions covering transparency, preventive measures coordination and punitive measures.
