The Financial Action Task Force (FATF) is holding its plenary session to consider the permanent removal of Morocco from its grey list. The French capital hosted the second plenary session, which has been held since 22 February. A final decision on removing the country from the grey list is expected, following a visit by the Group's experts to Morocco last January.

Morocco could finally put an end to being on the grey list on money laundering, after several years of reforms and efforts to strengthen the local legal arsenal against money laundering. The second plenary of the Financial Action Task Force (FATF) started on 22 February and will end on 24 February under the Singaporean presidency. It will conclude the FATF week from 20 to 24 February 2023.

Delegates will discuss key issues, including changes to standards to strengthen beneficial ownership requirements for trusts and legal arrangements at the FATF plenary. This plenary will also finalize guidelines on improving the transparency of beneficial ownership to prevent shell companies and other opaque structures from being used to launder illicit funds.

Similarly, delegates will discuss evaluations of anti-money laundering and terrorist financing measures in Indonesia, an observer member, and Qatar, a member of the GCC, as well as progress made by some jurisdictions identified as posing a risk to the financial system.