Financial Action Task Force Adds Croatia to the "Grey List"

The Financial Action Task Force (FATF), which monitors financial crimes, announced today, Friday, that it has added Croatia, Cameroon, and Vietnam to its "grey list" of countries subjected to special scrutiny. Consequently, Croatia becomes the only country from the European Union on the list, which also includes the UAE, Panama, and Mali. The group, headquartered in Paris, held its regular public meeting this week. It is an international organization comprising several governments that supports the fight against money laundering and terrorism financing by establishing global standards and assessing countries' compliance with them. The group reiterated today that "all jurisdictions must remain vigilant regarding the current and emerging risks posed by circumvention of measures taken against the Russian Federation in order to protect the international financial system." The FATF suspended Russia's membership in February.