FATF removes four countries from grey list and steps up crypto crime crackdown
The anti-money-laundering watchdog has removed four countries from its grey list and agreed to move faster against crypto crime and scam gangs.
The FATF said on Friday, 30 October, that Bulgaria, Côte d’Ivoire, the Democratic Republic of the Congo and Monaco had completed their action plans and would no longer be under increased monitoring. The decision came at the end of its plenary in Paris, held from 28 to 30 October, and no country was added.
Being on the grey list is not the same as being sanctioned. It means a country has promised to fix serious weaknesses in its defences against money laundering, terrorist financing and weapons proliferation financing. The FATF said on-site visits had confirmed that all four had finished their plans.
The meeting also put virtual assets, such as cryptocurrencies, at the centre of the FATF’s work. Members agreed to speed up FATF standards in countries with large crypto sectors, because criminal groups increasingly use virtual assets for fraud, scams, sanctions evasion and money laundering. A new review will publish results in June and October 2027.
The FATF also approved a report on the money flows behind scam compounds, which it called among the fastest-growing forms of organised crime. The report, due next week, looks at how the gangs generate, move and hide their profits.
Why it matters
Coming off the grey list can make it easier and cheaper for a country to do business with banks and investors abroad, because banks apply extra checks to payments linked to listed countries. The four removals cut the list from 22 countries to 18. The warning on crypto and scam compounds also matters for ordinary people: online fraud and fake investment schemes are a growing source of losses, and tighter rules for crypto firms are meant to make it harder for criminals to cash out.
The FATF left its high-risk “black list” unchanged, with North Korea, Iran and Myanmar still subject to a call for action. It warned Vietnam to show real progress by the next plenary, or face further steps.
What happens next
The scam-compounds report is due next week, and FATF reports on Mexico and the United States will follow in December 2026. Its next plenary is expected in February 2027, when Vietnam’s progress will be reviewed again.
This article is for general information and education only. It is not legal or financial advice.
Sources
- https://fatf-gafi.org/en/publications/Fatfgeneral/outcomes-fatf-plenary-october-2026.html (FATF, 30 October 2026)
- https://www.thehindubusinessline.com/money-and-banking/fatf-steps-up-global-crackdown-on-virtual-asset-crimes-fraud-and-scam-compounds/article71649061.ece (The Hindu BusinessLine, 31 October 2026)
- https://complyadvantage.com/insights/fatf-plenary-october-2026-four-grey-list-exits-a-virtual-asset-review-and-a-new-focus-on-scam-compounds/ (ComplyAdvantage, 30 October 2026)
