Cambodia had been placed on the list in 2019 largely due to concerns over a lack of AML/CFT controls in relation to the nation’s casino industry. It then failed an assessment in 2021 with FATF expressing “significant concern” over the progress of authorities in Cambodia and stating the nation had “failed to complete its action plan, which fully expired in January 2021.”
According to details published by the FATF on Friday following its latest plenary meeting, Cambodia and Morocco have both been removed from the grey list due to progress made in improving their respective AML/CFT regimes covered by their individual action plans.
“Both countries are no longer subject to the FATF’s increased monitoring process but will continue to work with the FATF-style regional body (FSRB) of which they are a member to further strengthen their AML/CFT regimes.”
New countries added to the grey list in 2023 are South Africa and Nigeria.
