Bulgaria has adopted provisions to accelerate its removal from the Financial Action Task Force’s (FATF) grey list.

Speaking to the media, Interior Minister Daniel Mitov announced that the government has approved the creation of a specialised taskforce to coordinate crime fighting efforts against money laundering.

“This is one of the steps that Bulgaria is taking towards its delisting from FATF’s grey list,” Mitov said. “The taskforce itself will be a part of the Interior Ministry’s General Directorate of National Police.

“This is the result of not only the joint work between our national institutions, but also of close collaboration and consultations with our international partners in the face of the US, the UK, and the European Union.”

The taskforce will be headed by Yavor Serafimov, current Deputy Director of the National Police, and former Director of Bulgaria’s national anti-organised crime unit – tasked with combating cybercrime, drug and human trafficking, corruption and economic crimes.

Serafimov will work closely with the National Revenue Agency, which as our readers will know currently takes the functions of Bulgaria’s gambling regulator.

FATF listings and gambling operations

Countries that are on the FATF greylist are considered to pose a heightened risk to the global economic ecosystem, especially when it comes to money laundering. This could negatively impact foreign investments into the listed jurisdictions, also affecting the gambling sector.

Gibraltar was removed from the list in 2024. Prior to that, EU-based banks and financial institutions were obligated to apply “enhanced due diligence” when handling transactions related to businesses headquartered in Gibraltar, including gambling firms.

Additionally, the UAE’s gambling sector has also been expanding, albeit under the watchful eye of the state, after it was delisted at the same time as Gibraltar.

One interesting detail is that the FATF recently decided to amend the criteria of how it classifies countries under the greylist designation. The next round of FATF country assessments will only list jurisdictions that are considered “least developed” under the United Nations protocol.

Given that Bulgaria is not classified as such, and coupled with the nation’s amplified efforts towards putting its AML provisions in order, 2026 could be considered as a realistic target for when the Eastern European state will finally be taken off FATF’s greylist.