FATF Updates Watchlist: Algeria, Angola, and More Added

The Financial Action Task Force (FATF) has removed Senegal from its list of countries under increased scrutiny while adding Algeria, Angola, Ivory Coast, and Lebanon. Senegal's improvement in countering money laundering and terrorism financing was noted. Ukraine's efforts to include Russia on a high-risk list encountered resistance.

The Financial Action Task Force (FATF), a prominent body dedicated to combatting financial crimes, announced a significant update to its monitoring list on Friday. Senegal has been removed from the list of countries requiring increased scrutiny due to its notable progress in eliminating money laundering and financing of terrorism.

At the same time, the FATF disclosed that Algeria, Angola, Ivory Coast, and Lebanon have been added to the list amid renewed concerns over their financial regulatory frameworks. The change underscores an ongoing global effort to tighten controls on financial malpractices.

Meanwhile, sources revealed that Ukraine's initiative to classify Russia as a high-risk money laundering jurisdiction has stalled once again. This effort faced opposition from significant players including China, India, Saudi Arabia, and South Africa, hindering its progress.