British Virgin Islands, Bolivia Put on Watchdog ‘Gray List’ (1)

The British Virgin Islands and Bolivia were added to a global financial watchdog’s “gray list” for shortcomings in combating illicit flows, a move that may hamper investor confidence and heighten bank scrutiny.

Tanzania, Mali and Croatia were removed from the same list, the Paris-based Financial Action Task Force said in a statement at the end of its joint plenary with the Council of Europe’s anti-money-laundering body Moneyval. Bloomberg News reported on the anticipated moves late last month.

Jurisdictions get added to the gray list after a multi-step process that includes a mutual-evaluation report assessing both technical compliance as ...