FATF Keeps DPRK, Iran on Blacklist; Adds Bosnia and Iraq to Grey List, Removes Algeria and Namibia

New Delhi, June 19, 2026 :-The Financial Action Task Force (FATF) concluded its sixth and final Plenary meeting under the Mexican Presidency today, delivering a comprehensive update to its lists of high-risk and monitored jurisdictions. The global watchdog against money laundering and terrorist financing has kept the Democratic People’s Republic of Korea (DPRK) and Iran on its “black list” of jurisdictions subject to a call for action, while Myanmar continues to face enhanced due diligence requirements with a firm October 2026 deadline for further progress.

In a significant reshuffle of the “grey list” of jurisdictions under increased monitoring, the FATF added Bosnia and Herzegovina and Iraq while removing Algeria and Namibia following successful remediation efforts.

Black List Remains Unchanged: DPRK, Iran, Myanmar

The FATF’s “black list” – officially titled “High-Risk Jurisdictions subject to a Call for Action” — continues to feature three jurisdictions with significant strategic deficiencies in their anti-money laundering and combating the financing of terrorism (AML/CFT) regimes.

Democratic People’s Republic of Korea (DPRK): The FATF remains deeply concerned by the DPRK’s continued failure to address significant deficiencies in its AML/CFT regime and the serious threats posed by its illicit activities related to the proliferation of weapons of mass destruction. The FATF has called on all countries to apply countermeasures including terminating correspondent relationships with DPRK banks, closing any subsidiaries or branches of DPRK banks, and limiting business relationships and financial transactions with DPRK persons. Despite these calls, the FATF noted that the DPRK has increased connectivity with the international financial system, raising proliferation financing risks and requiring greater vigilance.

Iran: The FATF acknowledged Iran’s re-engagement with the organisation as it aims to address deficiencies in its AML/CFT regime. However, Iran’s action plan expired in January 2018, and the country has shown limited progress since. The FATF continues to call for enhanced supervisory examination for branches and subsidiaries of financial institutions based in Iran.

Myanmar: Added to the black list in October 2022, Myanmar remains subject to a call for enhanced due diligence measures proportionate to the risks arising from the jurisdiction. The FATF noted that Myanmar has taken some steps to improve its regime but warned that if no further progress is made by October 2026, countermeasures may be considered. The FATF also noted that fraud and cyber scam activities in Myanmar remain extensive.

Grey List Shuffle: Bosnia and Iraq In, Algeria and Namibia Out

The FATF’s “grey list” — officially “Jurisdictions under Increased Monitoring” — now comprises 22 jurisdictions actively working with the FATF to address strategic deficiencies.

New Additions:

• Bosnia and Herzegovina and Iraq have been added to the list following review by the FATF. Both countries have committed to implementing FATF action plans within agreed timelines. Iraq’s addition reflects FATF concerns around cash-based risks and the effectiveness of money laundering and terrorist financing investigations.

Countries Removed:

• Algeria and Namibia have been removed from the grey list following successful on-site visits. The FATF congratulated both countries for positive progress in addressing strategic AML/CFT/CPF deficiencies identified during their mutual evaluations. Both jurisdictions have completed their action plans within agreed timeframes and will no longer be subject to the FATF’s increased monitoring process. Algeria will continue working with MENAFATF, while Namibia will continue with ESAAMLG to sustain improvements.

Current Grey List Jurisdictions: Following the June 2026 Plenary, the grey list includes Angola, Bolivia, Bosnia and Herzegovina, Bulgaria, Cameroon, Côte d’Ivoire, Democratic Republic of the Congo, Haiti, Iraq, Kenya, Kuwait, Lao PDR, Lebanon, Monaco, Nepal, Papua New Guinea, South Sudan, Syria, Venezuela, Vietnam, the Virgin Islands (UK), and Yemen. Kuwait and Papua New Guinea chose to defer reporting.

Humanitarian Safeguards Strengthened

In a significant development, the Plenary updated Recommendation 6 of the FATF Standards to ensure that sanctions measures do not block the flow of funds, assets, resources, goods, and services necessary for humanitarian assistance and basic human needs. The updated Standards incorporate the humanitarian exemption contained in United Nations Security Council resolutions relating to the prevention and suppression of terrorism and terrorist financing.

The FATF has also advised countries applying enhanced due diligence measures to ensure that flows of funds for humanitarian assistance, legitimate non-profit organisation activity, and remittances are not disrupted.

India’s Role and UK Presidency

The Plenary appointed Mr. Vivek Aggarwal of India as the incoming Vice-President of the FATF for the term July 2026 to June 2027. The FATF also approved the priorities of the incoming UK Presidency.

About FATF

The Financial Action Task Force is an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions. The FATF sets standards and promotes effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing, and other related threats to the integrity of the international financial system. The FATF’s decision-making body, the FATF Plenary, meets three times a year and updates these statements.

Advice to Regulated Entities

The FATF’s advice does not preclude regulated entities from legitimate trade and business transactions with the countries and jurisdictions mentioned. The detailed information is available in the updated public statements and documents released by FATF on June 19, 2026, accessible at the FATF’s official website.