High Risk and Non-Cooperative Jurisdictions

These countries are added to the list when they do not meet FATF standards or if concerns arise regarding their AML/CFT practices. The reasons for their inclusion encompass feeble AML/CFT frameworks, inadequate customer due diligence, a lack of cooperation, and the presence of terrorist financing activities. Being placed on the grey list leads to heightened international scrutiny, impacts a nation's access to global financial systems, and has repercussions on its economy and reputation. To exit the list, countries must rectify the identified deficiencies and demonstrate progress in fortifying their AML/CFT systems.

The FATF identifies countries with insufficient measures against money laundering and terrorist financing (AML/CFT) in two publicly available FATF reports issued three times annually. The FIAU supports these documents by issuing a Guidance Note on High Risk and Non-Cooperative Jurisdictions, as of April 4, 2012. Consequently, entities subject to these regulations are obligated to adhere to the FATF public reports.

Below please find the updated list published by the FATF on 27 October 2023:

Additionally, the following jurisdictions were removed from Category 3: Albania, the Cayman Islands, Jordan and Panama.

For further information kindly refer to the following sources:

• Jurisdiction under increased monitoring - FATF-On-going-Process-27-October-2023-2.pdf (fiaumalta.org)
• High risk jurisdictions - FATF-Public-Statement-27-October-2023-1.pdf (fiaumalta.org)