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-Manual 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  

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.

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.

21 Apr 2015

Australia has a mature regime for combating money laundering and terrorist financing, but certain key areas remain unaddressed, says FATF

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

Australia'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 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

Bosnia and Herzegovina: insufficient progress on amendments to anti-money laundering legislation

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.