FATF Grey List
The list of jurisdictions under active FATF monitoring — compliance in progress, or compliance performed.
The FATF grey list — formally the list of Jurisdictions under Increased Monitoring — identifies states that have been assessed as having strategic deficiencies in their anti-money laundering, counter-terrorist financing, or counter-proliferation frameworks, and have committed to working with FATF to address them within agreed timeframes. Placement on the grey list is not a sanction. It is a supervised remediation process.
In practice, the distinction between process and consequence is narrower than the formal framing implies. Grey-listed jurisdictions face heightened scrutiny from correspondent banks, international lenders, and sovereign credit rating agencies. The IMF and World Bank factor grey list status into country assessments. Foreign direct investment typically contracts. The pressure to exit the list is therefore considerable — which is precisely the mechanism FATF intends.
The grey list currently contains between twenty and thirty jurisdictions at any given time, spanning every region. A jurisdiction exits when FATF determines that deficiencies have been sufficiently addressed, a determination made by the same peer review process that identified them. Whether the exit reflects genuine systemic improvement — or successful performance of compliance — is a question the mechanism is not designed to resolve.
See also: FATF. FATF Blacklist. Peer Review. Sovereignty.
Source: Financial Action Task Force, Jurisdictions under Increased Monitoring (updated February 2025)