The Financial Action Task Force (FATF) said on October 27 that it added EU member Bulgaria to its gray list of countries subject to increased monitoring. Countries on the list have "strategic deficiencies" in their efforts to counter money laundering and terrorist financing but are cooperating with the watchdog to correct the problems. Bulgaria joined 22 other nations on the gray list, which is separate from its black list of nations considered high-risk. The FATF regularly reviews efforts to combat money laundering and the financing of terrorism among the 200 countries that have pledged to implement its recommendations.
