CSSF reflects FATF progress report: Four jurisdictions removed from enhanced monitoring
On October 27, 2025, Luxembourg’s financial sector regulator, the Commission de Surveillance du Secteur Financier (CSSF), updated the annex of Circular 22/822 removing Burkina Faso, Mozambique, Nigeria, and South Africa from the list of jurisdictions under increased monitoring.
The Financial Action Task Force (FATF) has recognised the significant progress made by Burkina Faso, Mozambique, Nigeria, and South Africa in strengthening their respective anti-money laundering and counter-financing of terrorism (AML/CFT) regimes.
Burkina Faso has enhanced its framework since 2021 by improving the monitoring of its national strategy, strengthening international cooperation and risk-based supervision, maintaining accurate beneficial ownership information, and reinforcing law-enforcement and prosecutorial capacities. The country has also improved the functioning of its Financial Intelligence Unit (FIU), increased suspicious-transaction reporting and implemented targeted financial sanctions regimes.
Mozambique has made substantial progress since 2022 by ensuring better coordination among authorities, training law-enforcement agencies, strengthening supervisory resources, collecting beneficial ownership data, and improving the capacity of its FIU. The country has also finalised a terrorist financing risk assessment, adopted a national counter-terrorism financing strategy and enhanced outreach to non-profit organisations.
Nigeria has advanced its AML/CFT system by completing a national risk assessment, enhancing international cooperation, improving risk-based supervision and ensuring access to up-to-date beneficial ownership information. The authorities have increased the use of financial intelligence, expanded investigations and prosecutions of money laundering and terrorist financing cases, and strengthened oversight of non-profit organisations.
South Africa has similarly demonstrated progress by improving supervision of designated non-financial businesses and professions, expanding investigations and prosecutions of serious money laundering and terrorist financing offences, and strengthening the implementation of targeted financial sanctions regimes. The country has also enhanced the collection and use of beneficial-ownership data and increased cooperation through mutual legal assistance requests.
As of today, the following countries are identified as high-risk countries on which enhanced due diligence and, where appropriate, counter-measures are imposed:
- Democratic People’s Republic of Korea (DPRK)
- Iran
- Myanmar
The following countries are identified as jurisdictions under increased monitoring of the FATF :
- Algeria
- Angola
- Bolivia
- British Virgin Islands
- Bulgaria
- Cameroon
- Côte d’Ivoire
- Democratic Republic of the Congo
- Haiti
- Kenya
- Lao People’s Democratic Republic
- Lebanon
- Monaco
- Namibia
- Nepal
- South Sudan
- Syria
- Venezuela
- Vietnam
- Yemen
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CSSF Updates AML/CFT blacklist with 4 countries
On October 28, 2024, Luxembourg’s financial sector regulator, the Commission de Surveillance du Secteur Financier (CSSF), updated its circular CSSF 22/822. This amendment added Algeria, Angola, Côte d’Ivoire, and Lebanon to the FATF’s list of jurisdictions under increased monitoring, while removing Senegal due to its progress in addressing anti-money laundering and counter-terrorism financing (AML/CFT) deficiencies.
In October 2024, Algeria, Angola, Côte d’Ivoire, and Lebanon each committed to collaborating with the FATF and their relevant regional bodies to strengthen their AML/CFT measures. These commitments include efforts to improve national cooperation, increase transparency on beneficial ownership, expand oversight of financial and non-financial sectors, and enhance investigations and sanctions related to money laundering and terrorism financing. Algeria and Angola have focused on strengthening supervision and financial intelligence, Côte d’Ivoire has reinforced its legal and asset management frameworks, and Lebanon has targeted anti-bribery measures, risk management, and unlicensed financial activities.
In contrast, Senegal, which has made significant strides since 2021, was removed from the list. The FATF recognized Senegal’s achievements in enhancing its understanding of AML/CFT risks, fostering international cooperation, improving financial institution supervision, expanding law enforcement capacity, implementing sanctions, and monitoring high-risk non-profits.
The Democratic People’s Republic of Korea (DPRK), Iran, and Myanmar are still listed as high-risk jurisdictions requiring enhanced due diligence and/or countermeasures due to significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing.
As of today, the following countries are identified as high-risk countries:
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