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FATF Unveils New ‘Gray List’ Criteria, Easing Pressure on Poorer Countries

Koos Couvée
London Bureau Chief

The Financial Action Task Force disclosed changes Thursday to the process by which the group names and shames countries with weak anti-money laundering regimes in a bid to ease pressure on poorer nations that do not pose significant risks to the global financial system. The revised procedures for FATF's upcoming fifth round of mutual evaluations, which starts in earnest next month when a team of assessors arrives in Latvia, also appear designed to ensure that the 38 nations that comprise the intergovernmental group are held to a somewhat higher standard than the rest of the world. "This is major change,"...

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