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Spillemyndigheden urges review of FATF grey list update
The Danish Gambling Authority (Spillemyndigheden) has released an important update about changes to the FATF grey list, urging gambling operators to pay attention to the latest list when reviewing players.
Countries on the grey list are under scrutiny because of higher risks of fraud and financial crime. In the update, Spillemyndigheden also reminded operators about Denmark’s AML regulations, which suggest that companies must review the risks of players from countries on both the FATF grey and black lists.
While enhanced due diligence (EDD) isn’t automatically required just because a country is on the grey list, operators should still be aware of the potential fraud risks.
Current countries in the FATF grey list are:
- Algeria
- Angola
- Bulgaria
- Burkina Faso
- Cameroon
- The Ivory Coast
- Croatia
- DR Congo
- Haiti
- Kenya
- Laos
- Lebanon
- Mali
- Monaco
- Mozambique
- Namibia
- Nepal
- Nigeria
- South Africa
- South Sudan
- Syria
- Tanzania
- Venezuela
- Vietnam
- Yemen
This latest update reveals that Nepal replaces the Philippines as the country was removed from the FATF grey list back in February. As for the black list, which includes nations with weak or non-existent anti-money laundering efforts, the list remains unchanged, still including North Korea, Iran, and Myanmar.
FAQs
What does FATF stand for?
FATF stands for Financial Action Task Force. It is an intergovernmental organization that develops and promotes policies to combat money laundering, terrorist financing, and other threats to the international financial system.
What countries are included in the FATF grey list?
The FATF grey list includes countries that are under increased monitoring for risks related to money laundering and terrorist financing. Currently, the list includes Algeria, Angola, Nigeria, and several others. The list is regularly updated, with countries being added or removed based on their efforts to improve anti-money laundering measures.
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