FATF President

On 1 July, Mr. Je-Yoon Shin of Korea became the President of the FATF.  He succeeded Mr. Roger Wilkins OA of Australia. Mr. Juan Manuel Vega Serrano of Spain assumed the position of Vice-President of the FATF.  

FATF Action on Terrorist Finance

The FATF and FATF-Style Regional Bodies will work together with international organisations to develop proposals to strengthen all counter-terrorism financing tools and to ensure that they are working effectively.

Best practices on combating the abuse of non-profit organisations

The FATF has revised its best practices paper, aimed at preventing misuse of non-profit organisations for the financing of terrorism while, at the same time, respecting legitimate activities of NPOs.

Virtual currencies

New FATF guidance aims to help national authorities understand the ML/TF risks associated with virtual currencies payments products and services, and potentially develop regulatory responses to address them.

Key Content

 2012 FATF Recommendations - Title and logo      FATF Recommendations
adopted February 2012

High-risk and non-cooperative jurisdictions:
jurisdictions for which an FATF call for action applies
other monitored jurisdictions  

20 Jul 2015

Money laundering and terrorist financing risks and vulnerabilities associated with gold

Gold has a stable value, is anonymous and easily transformable. This report identifies the features of gold and the gold trade that have made it an alternative means for criminals to transfer value and generate proceeds. Case studies and red flag indicators aim to raise awareness of the key vulnerabilities of the gold and the gold market.

16 Jul 2015

Career opportunity: policy analysts - anti-money laundering & combating terrorist financing

The FATF Secretariat is looking for Policy Analysts to work on assessments of anti-money laundering & combating terrorist financing measures of countries against the FATF Recommendations, and development of FATF policy papers. Closing date for applications: 23 August 2015.

26 Jun 2015

Outcomes of the Plenary meeting of the FATF, Brisbane, 24-26 June 2015

During the last Plenary under the Australian Presidency, the FATF adopted a number of reports, such as revised best practices on combating the abuse of non-profit organisation and guidance for a risk-based approach to virtual currencies. The FATF issued a statement on 'de-risking' as well as updated statements concerning high-risk and non-cooperative jurisdictions. The FATF welcomed the Kingdom of Saudi Arabia as an as an observer to the FATF.

26 Jun 2015

Drivers for "de-risking" go beyond anti-money laundering / terrorist financing

The FATF issued a statement and set out a future work plan on "de-risking" (when financial institutions terminate or restrict business relationships with categories of customer).

26 Jun 2015

FATF Public Statement - 26 June 2015

The FATF has updated its public statement identifying jurisdictions with strategic deficiencies in anti-money laundering / countering the financing of terrorism measures. FATF calls on countries to apply counter-measures to Iran and the Democratic People's Republic of Korea. FATF also calls its members to consider the risks emanating from Algeria and Myanmar.

26 Jun 2015

Improving Global AML/CFT Compliance: on-going process – 26 June 2015

The FATF identified jurisdictions which have strategic AML/CFT deficiencies for which they have developed an action plan with the FATF. The FATF recognised that Indonesia has made significant progress in improving their AML/CFT regime and will therefore no longer be subject to the FATF’s monitoring process.

23 Apr 2015

Belgium’s regime for combatting money laundering and terrorist financing is well established; however, certain elements are not yet fully in line with the 2012 FATF Recommendations

FATF has published the Mutual Evaluation Report of Belgium, which reviews its anti-money laundering and counter-terrorist financing measures. Belgium has the core elements of a sound anti-money laundering and counter-terrorist financing (AML/CFT) regime, although some elements are not yet fully in line with the 2012 FATF Recommendations, according to a new report by the Financial Action Task Force.

23 Apr 2015

Belgium's measures to combat money laundering and terrorist financing

This report provides a summary of the anti-money laundering (AML) / counter-terrorist financing (CFT) measures in place in Belgium as at the date of the on-site visit (30 June to 15 July 2014). The report analyses the level of compliance with the FATF 40 Recommendations and the level of effectiveness of Belgium’s AML/CFT system, and provides recommendations on how the system could be strengthened.