PARIS, Oct 25, 2024 (BSS/AFP) - Global anti-money laundering watchdog FATF on Friday added Lebanon, which is currently being pummelled by Israeli air strikes, to its "grey list" of nations that are subject to increased monitoring of financial transactions,

The Paris-based Financial Action Task Force said it also added Algeria, Angola, and Ivory Coast.

"Of course, we recognize the extremely grave situation that Lebanon is currently facing," said Elisa de Anda Madrazo of Mexico, which currently holds the organisation's rotating presidency.

Lebanon's being put on the grey list "should not impede relief efforts... and we are working to ensure that channels of humanitarian aid remain open," she added.

De Anda said that being put on the grey list was not a "punitive measure" and was part of the process of helping nations develop action plans to make improvements.

"I can tell you that there was a degree of flexibility granted to Lebanon as it relates to the deadlines set in the action plan," she said.

Senegal was removed from the grey list and the FATF noted improvements, including in its ability to investigate and prosecute money laundering cases linked to corruption.

The FATF made no changes to its "black list" of nations against which counter-measures should be taken to protect the international financial system from money laundering and terrorist financing risks emanating from those countries.

Iran, Myanmar and North Korea are on the black list.