Bulgaria expected to be removed from Financial Action Task Force “grey list”

Bulgaria is expected to be removed from the Financial Action Task Force (FATF) “grey list”, along with Monaco and Côte d’Ivoire, Bloomberg reported, citing sources familiar with the discussions, BTA said.

A final decision is expected at the organisation’s plenary meeting in Paris on October 30. Changes to the list are approved by consensus among FATF members, which include the United States, the United Kingdom, the European Commission, China, Japan and India.

Bulgaria was placed under increased monitoring in 2023.

According to an official FATF statement, Sofia has introduced a national strategy to combat money laundering and terrorist financing. The country has also strengthened oversight of high-risk money transfers.

Edited by Ivo Ivanov