Money Laundering : the FATF adds Algeria and Ivory Coast to its grey list but removes Senegal

The Financial Action Task Force (FATF) has recently included Algeria, Angola, Ivory Coast, and Lebanon in its « grey list » following a plenary meeting in Paris. Meanwhile, Senegal has been removed from the grey list.

This list assesses the cooperation of countries in combating money laundering and terrorist financing based on forty criteria. Although no country was added to the « black list, » the FATF president emphasized that Lebanon’s situation, facing significant difficulties, requires some flexibility in its action timelines. Inclusion on the grey list results in higher banking fees and longer processing times.