Current Affairs - International - Discussion

The Financial Action Task Force (FATF), an international body responsible for setting standards to combat money laundering and terrorist financing, placed Kuwait and Papua New Guinea on its “grey list” for increased monitoring after its February 2026 plenary meeting. Countries on this list have strategic deficiencies in their financial monitoring systems and must implement specific action plans within a given timeframe to address these gaps. While the grey list expanded, the FATF “black list” remained unchanged and includes Iran, North Korea, and Myanmar. The monitoring aims to safeguard the global financial system while ensuring humanitarian financial flows are not disrupted.