Algeria, Angola and Côte d’Ivoire added to the Financial Action Task Force’s “grey list”

According to African Business Magazine, Algeria, Angola and Côte d’Ivoire have all been added to the Financial Action Task Force’s “grey list” after failing in their financial regulatory and legal regimes, while Senegal has been removed from the list after making improvements. The FATF, an intergovernmental organization, sets international standards for anti-money laundering; countering the financing of terrorism; and countering the financing of proliferation of weapons of mass destruction. The “grey list” identifies countries that are actively working with the FATF to address shortfalls in those areas.