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Iraq, Bosnia and Herzegovina Added, Algeria and Namibia Removed from the FATF Grey List, 19th June 2026 Plenary
Executive Summary:
- June 2026 FATF Plenary Outcome: Changes to the FATF Grey List
- Countries Added to Increase Monitoring on 19th June 2026
– Iraq
– Bosnia and Herzegovina - Countries Removed from the FATF Grey List on 19th June 2026
– AlgeriaÂ
– Namibia - Next Steps: Update AML/CFT Policy and Procedures, Revise EWRA, Reassess Customer Risk.
FATF Grey List June Update: Iraq, Bosnia and Herzegovina Added, Algeria and Namibia Removed from the Jurisdictions Under Increased Monitoring
The Financial Action Task Force (FATF) is the global standard-setter for combating financial crimes. As an intergovernmental body, it develops and promotes global standards aimed at strengthening Anti-Money Laundering (AML), Counter Financing of Terrorism (CFT), and Counter Proliferation Financing (CPF) frameworks across the globe.
Following the conclusion of the FATF second Plenary Meeting on 19th June 2026, the Reporting Entities in India are required to revise their policies, procedures and existing controls to align with the FATF Update.
Iraq and Bosnia and Herzegovina were added, and Algeria and Namibia were removed from the FATF Grey List on 19th June 2026, acknowledging the need to strengthen their existing AML/CFT/CPF frameworks.
Action Items for Reporting Entities Following the FATF Grey List Update on 19th June 2026
Reporting Entities under the AML/CFT regulations need to incorporate FATF Grey List updates. The following actions are to be undertaken to remain compliant with the FATF Update:
Adopt a Risk-Based Approach
Reporting Entities should implement a Risk-Based Approach to effectively identify, assess and manage ML, TF, and PF risks.
Update Jurisdictional Risk Assessment
Reporting Entities should revise their jurisdictional Risk Assessment in line with the latest FATF Grey List update.
Implement Enhanced Customer Due Diligence
Reporting Entities should mandatorily conduct Enhanced Due Diligence (EDD) for customers associated with the jurisdictions newly added to the FATF Grey List.
Reporting Entities should assess their existing policies and procedures and re-align them to reflect the FATF Grey List update.
Reporting Entities should conduct an EWRA to gauge their exposure to ML/TF/PF risks as per the FATF Grey List.
Reporting Entities should recalibrate the parameters set in their software to detect high-risk countries as per the updated FATF Grey List and escalate them accordingly.
FATF Grey List Update as of 19th June 2026
1. Angola
2. Bolivia
3. Bosnia and Herzegovina
4. Bulgaria
5. Cameroon
6. Cote d’Ivoire
7. Democratic Republic of Congo
8. Haiti
9. Iraq
10. Kenya
11. Kuwait
12. Laos
13. Lebanon
14. Monaco
15. Nepal
16. Papua New Guinea
17. South Sudan
18. Syria
19. Venezuela
20. Vietnam
21. Virgin Islands (UK)
22. Yemen
Align your AML Framework with FATF Updates
Let AML India help you update your AML Framework in line with FATF Grey List changes.
We are committed to assisting proper enforcement of AML and CFT regulations to regulated entities in India by designing a personalised AML framework – policies, internal controls, and procedures – and ensuring effective implementation of the same.
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