AML/CFT: Update your list of high-risk countries
Following its plenary session in June 2026, the FATF (Financial Action Task Force) updated its "grey list," the list of jurisdictions under enhanced surveillance. Two countries were added to the list: Bosnia and Herzegovina and the’Iraq. For professionals in the jewelry, watchmaking, and related industries subject to AML/CFT regulations, now is the time to update their list of risk countries.
- The plenary session of June 2026 the FATF adds Bosnia and Herzegovina and the’Iraq to the grey list.
- There grey list lists the countries under enhanced surveillance; it is separate from the blacklist.
- Impact on the jewelry, watch, and related industries: heightened vigilance on clients and transactions related to these jurisdictions.
- To do: update your list of high-risk countries from the official FATF source.
What is the FATF grey list?
The FATF publishes two lists. grey list (Jurisdictions under enhanced monitoring) include countries that have deficiencies in their anti-money laundering and counter-terrorist financing systems, but have committed to correcting them. blacklist (High-risk jurisdictions) refers to countries requiring much stricter measures. These lists are reviewed at each plenary session, several times a year: countries are added to them, others are removed.
What will change in June 2026
At its plenary session in June 2026, the FATF has added Bosnia and Herzegovina and Iraq to its grey list. As the list's composition changes at each meeting, the only reliable reference remains the official list up to date published by the FATF.
Why this concerns HBJO professionals
Watchmaking, jewelry, and goldsmithing professionals who regularly sell valuable pieces are subject to AML/CFT. When a client, beneficial owner, or transaction is linked to a country under enhanced surveillance, you must apply enhanced vigilance measures : thorough identity checks, verification of the origin of funds, and closer scrutiny of the transaction. For the general framework, see our guide AML/CFT: What are the obligations for HBJO professionals? and the details of the vigilance obligations.
What to do
- Update your list of high-risk countries from the official FATF list (addition of Bosnia and Herzegovina and Iraq).
- Identify the relevant files : clients, beneficial owners or transactions related to these jurisdictions.
- Apply heightened vigilance as provided by your internal procedures, and track your controls.
Good idea: check the official list after each plenary from the FATF (several times a year) to keep your internal list up to date.
Consult the official FATF list
Sources: FATF, June 2026 plenary session; official list at fatf-gafi.org. This article is for informational purposes only and does not replace the advice of a council. FATF lists are updated at each plenary session: always check the current official list before making any decisions.