FATF updates grey listing criteria to target high-risk nations threatening global financial system.
The Financial Action Task Force (FATF) has updated its grey listing criteria, now targeting high-risk nations that threaten the global financial system. The focus will be on FATF members, countries with over $10 billion in financial assets, and those on the World Bank's High-Income list. Least developed countries will receive longer observation periods unless they pose significant risks. This shift aims to enhance support for low-capacity nations and improve global financial integrity.
October 18, 2024
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