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.
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.
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.
The FATF has made a preliminary assessment of the money laundering and terrorist financing risks associated with virtual currencies.
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.
adopted February 2012
High-risk and non-cooperative jurisdictions:
- jurisdictions for which an FATF call for action applies
- other monitored jurisdictions
23 Apr 2015
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
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.
21 Apr 2015
FATF has published the Mutual Evaluation Report of Australia, which reviews its anti-money laundering and counter-terrorist financing measures. Australia has strong legal, law enforcement and operational measures for combating money laundering and terrorism financing, but important improvements are needed in a number of key areas, according to a new report by the Financial Action Task Force and the Asia/Pacific Group on Money Laundering.
21 Apr 2015
This report provides a summary of the anti-money laundering (AML) /counter-terrorist financing (CFT) measures in place in Australia as at the date of the on-site visit (30 July - 12 August 2014). It analyses the level of compliance with the FATF 40 Recommendations and the level of effectiveness of Australia's AML/CFT system, and provides recommendations on how the system could be strengthened.
17 Apr 2015
The Council of Europe’s anti-money laundering body MONEYVAL adopted a public statement on the insufficient progress by Bosnia and Herzegovina on the Criminal Code and the implementation of by-laws to the preventive law.
27 Mar 2015
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
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
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.