Monaco, Venezuela placed on FATF money-laundering 'grey list'

Monaco and Venezuela were added on grey list with countries under special scrutiny, Global money laundering body FATF said. Both countries now made high-level political commitments to work with the body and implement an action plan to strengthen the effectiveness of their regulation, it said.

There are some two-dozen nations that are on the “grey list” and considered risky by the FATF, a body that groups countries from the United States to China to tackle financial crime.

Meanwhile, Turkey was removed from  ‘grey list’ under special scrutiny. Turkey has made significant progress in improving its anti-money laundering and counter-terrorism financing regime, the Paris-based body said in a statement.

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