Lebanon Placed on Money Laundering ‘Grey List’

The Financial Action Task Force (FATF), a global entity dedicated to combating money laundering, announced Friday that Lebanon has been added to its “grey list” for increased scrutiny of its financial transactions. Lebanon’s inclusion comes as it faces ongoing Israeli airstrikes. Alongside Lebanon, the FATF also added Algeria, Angola, and Ivory Coast to this list.

Elisa de Anda Madrazo of Mexico, currently leading the FATF, acknowledged Lebanon’s challenging circumstances. “Lebanon’s grey list status is not intended to disrupt humanitarian relief efforts,” she emphasized, adding that FATF is committed to ensuring humanitarian aid can still flow to the country.

Madrazo clarified that the grey list designation is not a punitive action but rather a part of the FATF’s efforts to support countries in improving financial regulatory measures. Additionally, she noted that Lebanon would be granted some flexibility regarding the deadlines in its assigned action plan.

On a positive note, Senegal has been removed from the grey list after showing progress, particularly in its capacity to investigate and prosecute money laundering tied to corruption.

The FATF did not update its “black list” of countries requiring heightened international countermeasures, which includes Iran, Myanmar, and North Korea.