Bolivia and British Virgin Islands added to FATF grey list
On June 12–13, 2025, the Financial Action Task Force (FATF) plenary meeting was held in Strasbourg. Following the meeting, Bolivia and the British Virgin Islands (BVI) were officially included in the so-called grey list — a list of jurisdictions under enhanced monitoring due to insufficient effectiveness in combating money laundering (AML) and the financing of terrorism (CFT).
What is the FATF grey list
The FATF grey list is a list of countries that have strategic deficiencies in the area of AML/CFT, but have expressed their willingness to cooperate with the FATF and other international bodies to address these deficiencies. Inclusion in the list means that the jurisdiction's activities will be closely monitored, and business associated with these countries may face increased risks and requirements from international financial institutions.
Impact on Bolivia and the BVI
Bolivia has been placed under enhanced FATF monitoring for the first time, which could hinder the country's access to international investment and raise barriers to foreign economic activity.
The British Virgin Islands, on the other hand, have long been a popular offshore jurisdiction. Inclusion in the grey list could seriously affect the BVI's reputation, reduce the attractiveness of this jurisdiction for setting up companies, and open the way to additional checks by banks and regulators on transactions involving BVI entities.
Blacklist Updates
The FATF blacklist remains unchanged: Iran, North Korea, and Myanmar continue to be on it. Russia, as before, is not included in any of the lists, but its membership in the FATF remains suspended. The organization once again warned countries against circumventing sanctions through third jurisdictions, calling for vigilance with respect to financial flows related to the Russian Federation.
How to act for business
For companies and investors working with Bolivia or BVI, it is important to review risks, implement stricter compliance procedures and be prepared for additional checks from banks and counterparties.
The IT-OFFSHORE company will help assess risks, select alternative jurisdictions and safely adapt business to new international requirements. We will provide comprehensive legal support and solve any problems in the field of offshore support.
