FATF lifts Algeria from grey list, adds Iraq
The Financial Action Task Force (FATF) has removed Algeria and Namibia from its gray list of jurisdictions under increased surveillance, while adding Iraq and Bosnia and Herzegovina. Iran, North Korea, and Myanmar remain on the black list of high-risk countries. The group noted progress made by Algeria in financial supervision and transparency, whereas Iraq needs to strengthen its efforts to combat money laundering and terrorist financing. Additionally, the group received political signals reaffirming their commitment to implementing the necessary reforms.
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