02/10/2025
Papua New Guinea is set to face grey listing for the second time by the Financial Action Task Force.
Bank of PNG Governor Elizabeth Genia confirmed grey listing is imminent.
PNG is currently in a 12-month Observation Period which ends in October 2025. During this time, PNG has the opportunity to show significant progress in responding to recommended actions from the mutual evaluation. Only sustained and rapid action from our responsible agencies would put PNG in a position to avoid the grey list completely.
If Papua New Guinea is placed on the grey list by the Financial Action Task Force (FATF), it could seriously affect our economy. Being grey-listed means the country is seen as not doing enough to prevent financial crimes like money laundering.
This could reduce investor confidence and make it harder for PNG businesses and individuals to send or receive money overseas. Even simple services like using Western Union could be limited.
However, due to the significant
Read more: https://www.nbc.com.pg/post/27082/png-to-be-grey-listed
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