Over a decade after Syria was placed on the FATF grey list, it remains stuck there—blocking progress on financial reintegration despite partial sanctions relief.

A report by Karam Shaar and Vittorio Maresca for OPEN

shows Syria completed FATF’s action plan in 2014. But the absence of an on-site evaluation—delayed for “security reasons”—has left the designation in place.

This status drives up compliance costs and deters banks and investors. Lifting sanctions alone won’t be enough. 

The report urges Damascus to engage proactively with the FATF, accelerate AML/CFT reforms, and push for the long-overdue on-site visit.

Full report

Read more