The Financial Action Task Force (FATF) has removed Senegal from its increased monitoring following a successful on-site visit and updated its statements on “high-risk and other monitored jurisdictions”, according to an announcement made at its plenary meeting on Friday 25 October.
Senegal could therefore be removed from the EU list of high-risk third-country jurisdictions having strategic deficiencies in their regime on anti-money laundering and countering the financing of terrorism (AML/CFT) (see EUROPE 13373/16). However, since the last update was rejected, the European Commission has not proposed a new list (see EUROPE 13397/2).
Members agreed to put out for public consultation the proposed revised standards relating to the FATF’s focus on financial inclusion (see EUROPE 13507/18). The FATF has also adopted new guidance on national risk assessments to help countries understand the illicit financing risks they face.
For the first time, two jurisdictions - the Cayman Islands and Senegal - were invited to participate in the FATF Plenary and Working Groups as guests. This represents significant progress in the FATF’s priority to strengthen diversity and inclusiveness throughout the FATF.
As far as the status of the Russian Federation is concerned, it has not changed and remains suspended, on the same basis as the suspension announced in February 2023 (see EUROPE 13358/13). (Original version in French by Anne Damiani)