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Targeted financial sanctions obligations and designated lists relating to the proliferation of weapons of mass destruction and proliferation financing

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30 October 2026UN Security Council updates the sanctions list (30/10/2026)

World news27 February 2023

FATF ADDS NIGERIA AND SOUTH AFRICA TO ITS ANTI-MONEY LAUNDERING WATCH LIST

Field: Proliferation financing Tiếng Việt

Unofficial translation from the Vietnamese original.

The Financial Action Task Force (FATF) has added Nigeria and South Africa to its “grey list” of countries that need to step up efforts to tackle money laundering and terrorist financing.

The FATF is an intergovernmental body that develops policies to combat money laundering and terrorist financing.

The FATF said that, after deliberation, it placed the two African countries on its watch list on Friday.

The organisation explained that placing a jurisdiction on its grey list means that the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring.

The FATF also stated: “Jurisdictions under increased monitoring are actively working with the FATF to address strategic deficiencies in their regimes to counter money laundering, terrorist financing and proliferation financing.”

“The jurisdictions newly subject to increased monitoring are South Africa and Nigeria.”

“The FATF and FATF-style regional bodies (FSRBs) continue to work with these jurisdictions as they report on the progress achieved in addressing their strategic deficiencies.”

“The FATF calls on these jurisdictions to complete their action plans expeditiously and within the agreed timeframes.”

“The FATF welcomes their commitment and will closely monitor their progress. The FATF does not call for the application of enhanced due diligence measures to be applied to these jurisdictions.”

In view of the “unlawful, unprovoked and unjustified full-scale military invasion of Ukraine” since 24 February 2022, the FATF has also suspended the membership of Russia.

“The Russian Federation’s continuing and intensifying war of aggression against Ukraine runs counter to the FATF principles aiming to promote security, safety and the integrity of the global financial system, as well as the commitment to international cooperation and mutual respect upon which FATF Members have agreed to implement and support the FATF Standards.”

“As a result, the FATF Plenary today suspended the membership of the Russian Federation.”

(For details, see here)

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