The Fourth Plenary Meeting of the Financial Action Task Force (FATF) under the Mexican Presidency of Elisa de Anda Madrazo was held from 22–24 October 2025 in Paris, France. The meeting concluded the FATF Week (20–24 October 2025), gathering delegates from over 200 jurisdictions across the FATF Global Network.
This Plenary discussed global progress in combating money laundering (ML), terrorist financing (TF), and proliferation financing (PF), reviewed country assessments under FATF’s new round of mutual evaluations, and approved key strategic guidance to strengthen international financial integrity.
4th FATF Plenary Highlights
Launch of FATF’s New Round of Mutual Evaluations
- The meeting marked the first discussions under FATF’s new assessment methodology for evaluating national AML/CFT/CPF measures.
- Belgium and Malaysia became the first two countries to undergo assessment under this revised, risk-based and time-bound evaluation process, focusing on results and effectiveness.
- FATF adopted their evaluation reports, setting a model for future assessments under the new cycle.
Guest Jurisdictions under FATF Guest Initiative
- For the first time, Nigeria and Jamaica participated as guest jurisdictions, joining Kenya under the Guest Initiative.
- This initiative aims to broaden regional representation and enhance understanding of FATF practices among non-member countries.
Countries Removed from FATF Grey List
The FATF Plenary removed four countries from the list of jurisdictions under Increased Monitoring (Grey List) – Burkina Faso, Mozambique, Nigeria, and South Africa, after successful completion of their Action Plans to strengthen AML/CFT/CPF frameworks.
Post-exit collaboration frameworks:
- Burkina Faso and Nigeria → Will continue engagement with GIABA (Inter-Governmental Action Group against Money Laundering in West Africa).
- Mozambique → Will work with ESAAMLG (Eastern and Southern Africa Anti-Money Laundering Group).
- South Africa → Will cooperate with both FATF and ESAAMLG to sustain progress.
Guidance on Asset Recovery
The Plenary approved comprehensive guidance on asset recovery to assist countries in:
- Strengthening domestic and cross-border recovery frameworks,
- Closing legal loopholes, and
- Enhancing capacity to trace and confiscate proceeds of crime.
The guidance supports FATF’s goal of making crime unprofitable by dismantling illicit financial flows.
FATF Horizon Scan on Emerging Financial Risks
FATF introduced a new “Horizon Scan” framework to alert the public and private sectors about:
- AI-driven financial crimes,
- Misuse of deepfakes and digital identity manipulation, and
- Technological vulnerabilities enabling illicit financial activity.
This is part of FATF’s proactive approach to emerging financial threats in the digital economy.
About Financial Action Task Force (FATF)
| Particulars | Details |
| Full Form | Financial Action Task Force |
| Nature | Independent inter-governmental body |
| Founded | 1989, during the G7 Summit in Paris |
| Expanded Mandate | In 2001, to include terrorist financing (post 9/11 attacks) |
| Headquarters | Paris, France |
| Members | 39 members (including India, USA, UK, China, France, Saudi Arabia, EU, etc.) |
| India’s Membership | Joined in 2010 |
| Affiliated Countries | Over 180 countries linked via FATF-Style Regional Bodies (FSRBs) |
| Current President (2025) | Elisa de Anda Madrazo (Mexico) |
Mandate and Core Functions
- Develops and promotes international standards to protect the financial system from:
- Money Laundering (ML)
- Terrorist Financing (TF)
- Proliferation Financing (PF)
- Conducts peer reviews (“Mutual Evaluations”) to assess country compliance.
- Issues public lists (grey and black) to monitor non-compliant jurisdictions.
- Provides policy recommendations (FATF 40 Recommendations) — regarded as the global AML/CFT benchmark.
FATF Lists – Key Concepts
| List Type | Meaning | Implications |
| Blacklist (High-Risk Jurisdictions) | Non-cooperative countries with severe AML/CFT deficiencies. | Subject to international countermeasures; denied IMF, World Bank, and ADB financial support. |
| Grey List (Increased Monitoring) | Countries with identified strategic deficiencies but committed to corrective action. | Heightened monitoring; may lead to blacklist if no progress shown. |
FATF‘s Blacklist and Grey List (as of October 2025)
High-Risk Jurisdictions (Blacklist)
Countries identified as high-risk jurisdictions —
- Democratic People’s Republic of Korea (North Korea)
- Iran
- Myanmar
FATF calls on all jurisdictions to apply enhanced due diligence and countermeasures against these countries.
Jurisdictions under Increased Monitoring (Grey List)
Countries currently on the Grey List include:
- Algeria, Angola, Bolivia, Bulgaria, Cameroon, Côte d’Ivoire, Democratic Republic of the Congo, Haiti, Kenya, Lao PDR, Lebanon, Monaco, Namibia, Nepal, South Sudan, Syria, Venezuela, Vietnam, Virgin Islands (UK), and Yemen.
These countries are actively working with FATF and regional bodies to address strategic deficiencies in AML/CFT/CPF regimes.
FATF Membership and Suspension
- Russia’s FATF membership remains suspended due to ongoing violations of FATF principles and geopolitical developments.
Key Facts
Regional FATF-Style Bodies (FSRBs):
- APG (Asia/Pacific Group on Money Laundering) – India is a member.
- GIABA – for West Africa.
- ESAAMLG – for Eastern & Southern Africa.
- MONEYVAL – for Europe.
- MENAFATF – for Middle East & North Africa.
FATF Secretariat:
- Hosted by the OECD (Organisation for Economic Cooperation and Development) in Paris.
FATF’s 40 Recommendations:
- First issued in 1990; regularly updated to address emerging risks (latest revision in 2023).
FATF’s Decision-Making:
- Operates by consensus, with three Plenary sessions per year.
- Each Plenary adopts reports, evaluations, and sanctions.
Significance of 4th FATF Plenary (2025)
- Marks the first phase of FATF’s new and enhanced mutual evaluation cycle.
- Strengthens the global asset recovery regime to dismantle criminal wealth structures.
- Expands global vigilance on AI-related financial crimes.
- Reflects FATF’s evolving focus on digital risk management and technological resilience.
- Reinforces the importance of multilateral cooperation against financial crime networks.