The Financial Action Task Force (FATF), the international body responsible for combating money laundering and terrorist financing, has resolved at its latest plenary to remove the Democratic Republic of the Congo, Ivory Coast, Bulgaria and Monaco from its 'grey list' of jurisdictions subject to enhanced monitoring.
Following its plenary meeting this Friday, the FATF celebrates the improvement shown by these countries in "their regime to combat money laundering and terrorist financing".
At the same session, the plenary decided to push much more quickly the effective implementation of the FATF Standards on virtual assets in those jurisdictions where this type of activity has significant weight.
Likewise, it "recognized the need to urgently strengthen countries' defenses against the growing threat posed by the misuse of virtual assets for money laundering and terrorist financing".
Lastly, the plenary has approved a "historic report that raises the fight against fraud and scams to the category of global priority", providing a solid basis "for the FATF and its Global Network to intensify their efforts to identify, dismantle and deprive the criminal networks operating behind these activities of their illicit proceeds".