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
27 Feb 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
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
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
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
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.
19 Dec 2014
Cutting terrorists’ resources is an effective measure to stop terrorism. However, FATF assessments demonstrate that in practice, most countries are still not able to freeze terrorists’ assets effectively, says FATF President Roger Wilkins AO at a briefing to the United Nations Security Council Counter Terrorism Committee on 18 December 2014.
18 Dec 2014
FATF has published the Mutual Evaluation Report of Norway, which reviews its anti-money laundering and counter-terrorist financing measures. Norway has taken some good initiatives to combat money laundering and terrorist financing, but needs to establish overarching policies and strategies, and address significant weaknesses in a number of key areas.
12 Dec 2014
The Council of Europe’s anti-money laundering body MONEYVAL adopted, at its 46th plenary meeting, a public statement, urging Bosnia and Herzegovina to immediately and meaningfully address its AML/CFT deficiencies.