Namibia and Algeria Removed from FATF Grey List After Anti-Money Laundering Reforms

The FATF has removed Namibia and Algeria from its grey list after both countries improved measures against money laundering and terrorism financing. The decision is expected to boost investor confidence and ease international financial transactions.

The Financial Action Task Force (FATF), the global body responsible for setting standards and monitoring efforts to combat money laundering and terrorism financing, has removed Namibia and Algeria from its grey list following significant improvements in both countries’ financial regulatory systems.
The announcement was made on Friday by FATF President Elisa de Anda Madrazo, who explained that both countries had made meaningful progress in addressing previously identified weaknesses in their anti-money laundering and counter-terrorism financing frameworks. According to her, Algeria strengthened its risk-based supervision system, improved transparency around beneficial ownership structures, and enhanced the implementation of targeted financial sanctions. Namibia, on the other hand, improved supervision across both financial and non-financial sectors and stepped up investigations and prosecutions involving complex and serious money laundering cases.
Namibia had been placed on the grey list in February 2024 after FATF identified 13 gaps in its systems for preventing money laundering and terrorism financing. These deficiencies covered areas such as regulatory oversight, enforcement capacity, and compliance mechanisms. Since then, the country has worked through a series of reforms aimed at closing those gaps and aligning its financial system with international standards.
Being on the FATF grey list often signals to the global financial system that a country has strategic deficiencies in combating financial crime, which can lead to increased scrutiny from banks and investors, higher compliance costs, and delays in international transactions. As a result, removal from the list is widely seen as a positive development for economic confidence and foreign investment.
For Namibia and Algeria, this decision is expected to improve their financial reputations and make it easier for capital flows, trade transactions, and cross-border banking relationships. Analysts say that delisting typically reduces friction in international financial dealings and can support broader economic stability and investor trust.
The development also reflects a wider trend in Africa, where several countries have been working to exit the grey list through regulatory reforms and stronger enforcement. In October 2025, FATF also removed four other African countries—South Africa, Nigeria, Mozambique, and Burkina Faso—after they demonstrated progress in strengthening their anti-money laundering and counter-terrorism financing systems.