By Gokhan Ergocun
ISTANBUL (AA) - South Africa, Nigeria, Mozambique and Burkina Faso were removed Friday from the Financial Action Task Force (FATF) grey list, according to a statement.
The four countries have been removed from “Jurisdictions under Increased Monitoring,” referred to as the “grey list.”
The General Assembly congratulated the countries for the progress they have made in addressing deficiencies identified during mutual evaluations in the fight against strategic money laundering and terror financing (AML/CFT).
South Africa and Nigeria were placed on the grey list in February 2023, Mozambique in October 2022 and Burkina Faso in February 2021.
Following the decision to remove them from the grey list, the South African rand and Nigerian naira gained value against other currencies.
The FATF General Assembly, operating under the Organization for Economic Cooperation and Development (OECD), is being held in Paris from Oct. 20 - 24.