Financial Action Task Force (FATF)

Last week at the G20 South Africa 1st Finance Ministers and Central Bank Governors Meeting,  the Chair’s summary of the meeting supported the FATF and the FATF-Style Regional Bodies in overseeing the implementation of the FATF Standards to combat money laundering, terrorist financing and proliferation financing across the Global Network. It also reiterated the importance of stepping up global efforts to effectively implement the FATF’s revised Standards on the transparency of beneficial ownership of legal persons and arrangements, as well as on asset recovery and international cooperation, and supported ongoing work to revise the FATF’s Standards on payment transparency as well as the implementation of its standards on virtual assets.   The Chair’s summary also welcomed FATF’s commitment to ensure financial integrity without compromising financial inclusion and supported the FATF’s ongoing work to support low-capacity countries in the implementation of AML/CFT/CPF Standards.   Read more in the Chair’s summary from Minister Enoch Godongwana   https://lnkd.in/dJwH4rzR   #G20 #G20SouthAfrica

This week the FATF Secretariat participated in a successful second forum of FATF Style Regional Bodies (FSRBs) in Strasbourg, hosted by MONEYVAL in collaboration with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH. Representatives from seven FSRBs and the FATF gathered to exchange knowledge and strengthen global collaboration.   Thanks to FSRBs, the FATF Global Network brings together more than 200 countries in the fight against illicit finance. The role of FSRBs is crucial to making the international financial system a defensive shield against criminals.   Read more 👇   https://lnkd.in/dZFRuiNy 📷 credit: Council of Europe #AML #CFT #CPF #FATF #GAFI #FollowTheMoney 

The FATF has strengthened its global standards to combat the financing of the proliferation of weapons of mass destruction by requiring countries, financial institutions, Designated Non-Financial Businesses and Professions, and Virtual Asset Service Providers to identify, assess and understand proliferation financing (PF) risks. As part of this, we are conducting a comprehensive study to improve understanding of current PF risks and identify challenges and best practices for effective risk assessment and mitigation. 🗣️ The FATF invites contributions from the private sector and civil society for this study. 📅 Share your input by 21 March 2025. https://lnkd.in/eG6TeHAq #FATF #ProliferationFinancing #SanctionsEvasion #RiskAssessment

FATF President Elisa de Anda Madrazo and Executive Secretary Violaine Clerc are participating in the first G20 Finance Ministers and Central Bank Governors meeting under the 2025 South African Presidency, discussing key issues to ensure financial stability and sustainable economic growth, including the fight against financial crime.   Whilst moderating a panel on enhancing cross-border payments in Africa, FATF President Elisa de Anda Madrazo highlighted the need to strike the right balance between promoting enhanced financial inclusion via faster and cheaper payments, without compromising defences against illicit finance or fraud.    #G20 #G20SouthAfrica G20 South Africa #AML #CFT

📢 With around 1.4 billion people around the world still without a bank account, the FATF has updated its standards to better support financial inclusion. To embed the changes, the FATF is updating its Guidance on AML/CFT measures and financial inclusion that will equip policy makers and regulators with practical examples. 🗣️ We have therefore launched a public consultation inviting views and comments on updated guidance. Share your views by Friday 4 April 2025. https://lnkd.in/ek9k3kR7 #FATF #GAFI #AML #CFT

🗨️ Share your views: Last week the FATF Plenary agreed to consult on potential revisions to its Recommendation 16 on payment transparency. The proposed revisions aim to help make cross-border payments faster, cheaper, more transparent and inclusive whilst remaining safe and secure - an objective that is part of the G20 Priority Action Plan. 📅 The FATF would like to hear from all interested stakeholders, in particular from the payment industry. Share your input by 18 April 2025: https://lnkd.in/esfM-p2N #FATF #AML #CFT #G20 #G20SouthAfrica

“A golden thread running through this Plenary has been collaboration and knowledge sharing.” – FATF President, Elisa de Anda Madrazo   Delegates from across over 200 jurisdictions took part in the second FATF Week under the Presidency of Elisa de Anda Madrazo. Kenya, the Cayman Islands and Senegal all had a seat at the table under the Guest Initiative. Plenary outcomes included: ➡ changes to the FATF Standards to better support a risk-based approach and financial inclusion. ➡ work on combating financial flows related to online child sexual exploitation. ➡ updates to jurisdictions under increased monitoring, removing the Philippines following a successful on-site visit. Read more about the outcomes of the February 2025 FATF Plenary on our website: https://lnkd.in/eap8aKuP #moneylaundering #terroristfinancing #proliferationfinancing #FollowTheMoney

The second FATF Plenary under President Elisa de Anda Madrazo has now concluded. Highlights include:    ➡ Updates to the FATF standards to better support a risk-based approach and financial inclusion.    ➡ Approved report on combating financial flows related to online child sexual exploitation.    Read more about the outcomes of the Plenary, including updates to the list of jurisdictions under increased monitoring, on our website: https://lnkd.in/d-4aNibX

The February 2025 FATF Plenary kicked off today with Kenya, the Cayman Islands and Senegal all participating under our Guest Initiative.     The initiative aims to broaden the diversity of perspectives and backgrounds at the FATF, by giving members of regional bodies without joint FATF members, a seat at the table.     Learn more about the FATF Global Network: https://lnkd.in/eziD8AXd #FATF #GAFI

📅 Join FATF President Elisa de Anda Madrazo next month for “Women in Anti-Financial Crime: Inspiring the Next Generation of Leaders”, hosted by The Centre for Finance and Security (CFS) at RUSI Building on the Women in FATF and the Global Network initiative, the event will focus on how women’s leadership in financial crime prevention can inspire the next generation of leaders, drive progress, and foster effective approaches to the evolving challenges of financial crime.    Apply for in person or online attendance here:  https://lnkd.in/d-K8tixD