The Financial Action Task Force (FATF) concluded its February 2026 Plenary in Mexico City, marking an important milestone under the Mexican Presidency of Elisa de Anda Madrazo. Over three days, delegates from more than 200 jurisdictions discussed evolving threats in illicit finance and agreed on a series of strategic actions to strengthen global safeguards.
- Progress in Mutual Evaluations
The Plenary adopted assessment reports for Austria, Italy and Singapore, the latest to be evaluated under FATF’s strengthened methodology.
These new assessments emphasise real-world effectiveness—how well countries prevent and respond to money laundering, terrorist financing, and proliferation financing.
The final reports will be published between April and May 2026. [fatf-gafi.org]
- Addressing High-Risk Jurisdictions
FATF continues to monitor jurisdictions with strategic deficiencies.
Key updates include:
- Kuwait and Papua New Guinea have been added to the list of Jurisdictions under Increased Monitoring (“grey list”).
- The updated Grey List includes the following countries:
- Algeria
- Angola
- Bolivia
- Bulgaria
- Cameroon
- Côte d’Ivoire
- Democratic Republic of the Congo
- Haiti
- Kenya
- Kuwait (added February 2026)
- Lao PDR
- Lebanon
- Monaco
- Namibia
- Nepal
- Papua New Guinea (added February 2026)
- South Sudan
- Syria
- Venezuela
- Vietnam
- Virgin Islands (UK)
- Yemen
- The FATF also issued an updated public statement on Iran, which remains subject to increased scrutiny under the “Call for Action” process.
This ongoing supervision aims to ensure that vulnerable jurisdictions take meaningful action to strengthen their AML/CFT frameworks.
- Tackling Cyber‑Enabled Fraud
Fraud continues to evolve at speed, fuelled by technological innovation.
In response, the FATF approved an analytical paper highlighting:
- The growing scale and complexity of cyber‑enabled fraud
- The need for enhanced cross-border cooperation
- Stronger use of technology across AML/CFT systems
FATF has announced fraud as an area of focus for the coming years.
- New Reports on Virtual Assets
Recognising the rapid expansion of virtual assets and related risks, FATF approved two new reports to be published next month:
- Understanding and Mitigating the Risk of Offshore Virtual Asset Service Providers (oVASPs)
- Stablecoins and Unhosted Wallets: A Targeted Risk Report
These publications aim to help countries close regulatory gaps and better understand the cross-border nature of digital asset risks.
- Strategic Priorities for 2026–2028
FATF members agreed on new strategic priorities to be endorsed at the upcoming Ministerial meeting. These priorities will guide global efforts to stay ahead of emerging financial crime threats.
They also adopted measures to strengthen collaboration with FATF‑Style Regional Bodies, supporting greater cohesion across the global network.
- FATF Presidency Update
Mr Giles Thomson of the United Kingdom has been appointed as FATF President for 2026–2028, following his tenure as Vice-President. He will assume office on 1 July 2026.
This marks the transition from the presidency of Elisa de Anda Madrazo.
Conclusion
The February 2026 FATF Plenary delivered a decisive set of actions aimed at reinforcing global resilience against financial crime. From cyber‑enabled fraud to virtual assets and evolving jurisdictional risks, the outcomes reflect FATF’s commitment to ensuring that national and international systems remain robust and responsive in a rapidly changing environment.