The European Commission Removes Morocco from the Gray List

The European Commission announced today, Wednesday, that it has removed Morocco from the EU's gray list concerning countries under scrutiny for money laundering and financing terrorism. This decision takes into account information issued by the Financial Action Task Force (FATF) and the adjustments made during the recent plenary meeting of the group in February 2023 within the list of "jurisdictions under increased monitoring" or known as the "gray list." The Commission concluded that "considering that Morocco has strengthened the effectiveness of its anti-money laundering and counter-terrorism financing system and has addressed the technical shortcomings in a manner that meets its commitments outlined in its action plan—aimed at addressing the strategic deficiencies identified by FATF—the Commission's assessment of the available information leads to the conclusion that Morocco no longer exhibits deficiencies in its system and should therefore be removed from the gray list."