As an island nation, Australia has been well protected from invasions of freshwater fish that have plagued other parts of the world. However, with an estimated population of 8.7 million pet fish and 1025 pet and aquarium shops, Australia is at risk of ornamental species establishing and impacting our native fauna. The significant ecosystem effects of translocated and non-native fishes, including carp and tilapia, is well known, reinforcing the movement to identify the level of threat of non-established species as a primary step towards ensuring such species do not become established in the wild. Termed the “grey-list”, these potentially noxious species were risk assessed by an initiative of an inter-governmental working group in 2010, with three reports published evaluating 806 species. This presentation re-visits the "grey-list" to both review the validity of the methods used and to update the background information, including assessing additional species.  While the list has been an extremely important step in the fight against noxious species, initial analysis has found inconsistencies in the decision-making and methodology as well as the use of a precautionary principle that potentially overwhelmed the perceived threat level fish were attributed.