Iceland no longer on FATF grey list

At its Annual General Meeting the International Financial Action Task Force on Anti-Money Laundering and Terrorist Financing (FATF) has today decided that Iceland will be removed from the list of countries with inadequate protection against money laundering and terrorist financing, commonly referred to as the ‘grey list’.

The decision was made following a field study that took place in Iceland at the end of September, where it was confirmed by experts working on behalf of FATF that the measures that Iceland was required to take had been satisfactorily completed. The experts further recognised that there was a strong political will on the part of the Icelandic government to continue working to strengthen Iceland's defences against money laundering and terrorist financing.

"For the past two years, the bar has been raised in the fight against money laundering and terrorist financing. I am grateful for the great and selfless work that has been done by many parties and individual governments in this country so that this result could be seen. We would like to thank them all and congratulate them on today’s announcement, "says Áslaug Arna Sigurbjörnsdóttir, Minister of Justice.