Risk-Based Approach for the Banking Sector

New FATF guidance assists countries, competent authorities, and banks to identify, assess, and understand the money laundering and terrorist financing risks to which they are exposed, and take the appropriate measures in accordance with the level of risk.

Transparency and Beneficial Ownership

New FATF guidance will help policy makers and practitioners in national authorities to identify, design and implement measures to prevent the misuse of corporate vehicles for money laundering, terrorist financing and other illicit purposes. 

Risk of terrorist abuse in non-profit organisations

Terrorist organisations and non-profit organisations (NPOs) have very different objectives, but often need the same resources to operate. This makes NPOs vulnerable to terrorist abuse.

 

Virtual currencies

The FATF has made a preliminary assessment of the money laundering and terrorist financing risks associated with virtual currencies.

FATF President

On 1 July, Mr. Roger Wilkins AO of Australia became the President of the FATF.  He succeeded Mr. Vladimir Nechaev of the Russian Federation. Mr. Je-Yoon Shin of Korea assumed the position of Vice-President of the FATF.  

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  

27 Mar 2015

Dialogue with the Private Sector

FATF and private sector representatives met for the annual meeting of the private sector consultative forum. During this two-day event, FATF received useful input from the private sector on important issues that included recent developments related to terrorism and terrorist financing risks, and an exchange of views on "de-risking".

26 Mar 2015

Consultation and Dialogue with Non-Profit Organisations

Participants from NPOs, financial institutions, FATF members and observer delegations met for an in-depth exchange of views on a number of important issues affecting the NPO sector. These include the FATF’s ongoing work to revise its Best Practices Paper on Combating the Abuse of Non-Profit Organisations, the need to avoid a “one-size-fits-all” approach to effectively combat terrorist abuse of NPOs given that not all NPOs are at high risk, and the importance of ensuring that misinterpretation or poor implementation of the FATF standards does not adversely impact legitimate charitable activities of NPO.

27 Feb 2015

Outcomes of the Plenary meeting of the FATF, Paris, 25-27 February 2015

During the second Plenary meeting under the Australian Presidency, the FATF issued a statement on FATF action on terrorist finance, and adopted a report on the financing of terrorist organisation Islamic State in Iraq and the Levant (ISIL). The FATF Plenary discussed the mutual evaluation reports for Australia and Belgium, and updated its statements concerning high-risk and non-cooperative jurisdictions.

27 Feb 2015

FATF Action on Terrorist Finance

Using the findings of the FATF report on the sources and methods of financing of ISIL, the FATF and the 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.

27 Feb 2015

FATF Public Statement - 27 February 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, Ecuador and Myanmar.

27 Feb 2015

Improving Global AML/CFT Compliance: on-going process – 27 February 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 Albania, Cambodia, Kuwait, Namibia, Nicaragua, Pakistan and Zimbabwe have made significant progress in improving their AML/CFT regime and will therefore no longer be subject to the FATF’s monitoring process.

27 Feb 2015

Financing of the Terrorist Organisation Islamic State in Iraq and the Levant

This FATF report provides a summary of the most important revenue sources and financial activities of ISIL and highlights a number of new and existing measures to disrupt its financing. It will contribute to FATF work to identify existing and new countermeasures to combat terrorist financing and ISIL in particular.

25 Feb 2015

FATF Plenary meeting opens with terrorist financing high on the agenda

The three-day Plenary meeting of the FATF started today with a speech by Mr. Michel Sapin, French Minister of Finance and Public Accounts. The FATF Plenary meeting brings together representatives from the FATF Global network of over 190 countries. This meeting will have a particular focus on the issue of terrorist financing, and the financing of terrorist organisation ISIL.