Venezuela Set to Join Global Watchdog’s Dirty Money ‘Gray List’

Venezuela, already under sanctions from the US, is expected to get added to a global watchdog’s “gray list” for not making sufficient progress to stem illicit financial flows.

The Paris-based <-bsp-bb-link state="{"bbHref":"bbg://securities/1685133D%20FP%20Equity","_id":"00000190-3bda-d497-a7fb-ffdf21ad0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Financial Action Task Force is poised to put the South American nation — home to the world’s largest proven oil reserves — on its list as early as June 28, the final day of its plenary in Singapore, according to people familiar with the matter, who requested anonymity as the plans are private.

No final decisions have been made. To avoid the designation, a significant majority of the ...