Key points:
- The Financial Action Task Force (FATF) has updated its lists of high-risk jurisdictions, with 25 countries on the Grey List and 3 countries on the Black List
- The Philippines has been removed from the latest Grey List, indicating progress in meeting FATF’s regulatory expectations
- Gambling operators must consider these updated lists when conducting risk assessments of players as part of their anti-money laundering compliance
The Danish Gambling Authority has issued a notice regarding the latest updates to the Financial Action Task Force (FATF) lists of high-risk jurisdictions.
These updates are important for gambling operators, who must factor FATF’s classifications into their risk assessment processes for players.
The FATF maintains two lists: the Grey List, which includes jurisdictions under increased monitoring due to deficiencies in combating money laundering and terrorist financing, and the Black List, which includes jurisdictions requiring enhanced countermeasures.
The newly updated Grey List now includes 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 and Yemen.
The Black List on the other hand remains unchanged, featuring North Korea, Iran and Myanmar.
Good to know: This update follows a previous revision in November 2024, which saw Lebanon added to the Grey List
While the overall number of high-risk jurisdictions has remained relatively stable, the continued presence of several countries highlights ongoing concerns regarding financial crime compliance. Notably, the Philippines has been removed from the latest Grey List, indicating progress in meeting FATF’s regulatory expectations.
Under Denmark’s Anti-Money Laundering (AML) Act, gambling operators must conduct Enhanced Customer Due Diligence (EDD) when a player is deemed to pose a high risk of involvement in financial crimes.
FATF’s lists serve as key indicators in this assessment, but operators are only required to perform EDD when a jurisdiction appears on the EU’s High-Risk Third Country list, as outlined in Section 17(2) of the AML Act.
The updated FATF lists will therefore serve as a reference point for operators to enhance consumer protection and regulatory compliance.
