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.  

FATF Assessment Methodology

Future assessments will determine how well countries achieve the objective of fighting money laundering and the financing of terrorism & proliferation.

FATF's Focus on Corruption

The FATF Recommendations can also help combat corruption.

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

19 Sep 2014

Bosnia and Herzegovina: continued lack of progress in anti-money laundering / counter-terrorist financing legislation

The Council of Europe’s anti-money laundering body MONEYVAL adopted, at its 45th plenary meeting, a public statement on the continued lack of progress in Bosnia and Herzegovina,on legislation to address MONEYVAL’s concerns.

24 Jul 2014

Financial flows linked to the production and trafficking of Afghan opiates

This report aims to raise awareness about the financial flows related to the Afghan opiate trade and the interrelationship between drug trafficking and terrorist financing. It analyses how the financial transactions related to the Afghan opiates trade are conducted, which will assist in the detection of opiate-related financial transactions. It also provides financial centres with information about the factors that make them attractive and vulnerable to financial transactions involving proceeds of drug trade.

1 Jul 2014

Objectives for the Australian Presidency of the FATF (2014-2015)

An overview of the objectives for the Australian Plenary year (July 2014-June 2015), as presented by FATF President Roger Wilkins to the FATF Plenary in June 2014.

27 Jun 2014

Outcomes from the meeting of the FATF Plenary, Paris, 25-27 June 2014

During the last Plenary meeting under the Russian Presidency, the FATF adopted a number of reports, such as a typologies report on the risk of terrorist financing abuse of non-profits, and the key definitions and potential AML/CFT risks of virtual currencies. It reviewed voluntary tax compliance programmes in several jurisdictions and updated its statements concerning high-risk and non-cooperative jurisdictions.

27 Jun 2014

Improving Global AML/CFT Compliance: on-going process - 27 June 2014

The FATF identified jurisdictions which have strategic weaknesses in their anti-money laundering and counter terrorist financing (AML/CTF) framework. These countries have developed an action plan with the FATF to address these AML/CTF weaknesses. The FATF recognised that Kenya, Kyrgyzstan, Mongolia, Nepal and Tanzania made significant progress in improving their AML/CTF regime and will therefore no longer be subject to the FATF’s monitoring process.

27 Jun 2014

FATF Public Statement - 27 June 2014

The FATF has updated its public statement issued in February 2014 which identifies jurisdictions with strategic anti-money laundering and countering the financing of terrorism (AML/CFT) deficiencies.

23 Jun 2014

FATF Targeted Financial Sanctions Experts' meeting

If implemented effectively, targeted financial sanctions are an important means to deprive terrorist and proliferation financiers of their funds, thereby protecting citizens from the threats of crime, terrorism and weapons of mass destruction. To increase collaboration, coordination and sharing of information between the relevant bodies, this meeting brought together targeted financial sanction experts from 51 countries and 16 organisations.

6 Jun 2014

Bosnia and Herzegovina: lack of progress in adopting necessary legislation

The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) of the Council of Europe issued a public statement on Bosnia and Herzegovina in the light of continued lack of progress in the adoption of necessary legislation to address its concerns. MONEYVAL has invited the FATF to bring their concerns to the attention of the global network of the FATF.