What are the disadvantages of being on the FATF grey list?
A country faces many difficulties after being included in the FATF grey list.
These include reputational damage, which can result in difficulties getting loans and investments.
The country’s international transactions also face increased scrutiny.
It also faces pressure from the international financial community to reform its AML/CFT regime.
Thus, being on the FATF grey list hampers a country’s economic growth and development prospects.
Here is the article providing a comprehensive understanding of the FATF grey list.