FATF Retains North Korea, Myanmar, and Iran on the Blacklist After June 2026 Plenary

Plenary Outcomes

The FATF concluded its June 2026 plenary session in Paris, reaffirming the placement of the Democratic People's Republic of Korea (DPRK), Iran, and Myanmar on the 'High-Risk Jurisdictions Subject to a Call for Action'—commonly known as the FATF Blacklist. These nations continue to exhibit severe strategic deficiencies in their Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) frameworks.

What Does the Blacklist Mean?

• Enhanced Due Diligence (EDD): All FATF member jurisdictions are required to apply stringent counter-measures when dealing with these nations.
• Financial Isolation: International banks and financial institutions are effectively cut off from conducting business with blacklisted nations, strangling their access to the global financial system.
• Diplomatic Pressure: The designation exerts enormous diplomatic and economic pressure on the listed governments to reform their financial systems.

Grey List Updates

The plenary also reviewed the 'Jurisdictions Under Increased Monitoring' (Grey List). Several nations were reviewed for potential addition or removal based on their progress in implementing agreed-upon action plans.

Key Facts for Competitive Exams

• FATF Establishment: Created in 1989 at the G7 Summit in Paris to combat money laundering. Its mandate was later expanded to include terrorism financing.
• FATF Headquarters: Paris, France (housed at the OECD headquarters).
• FATF Members: 40 member jurisdictions (39 nations + the European Commission) and 2 regional organizations.
• India's FATF Status: India is a full member of FATF and is NOT on the Grey List or Blacklist.