Long abstract

Chairman's Summary of the FATF Plenary Meeting in Paris, 27-29 February 2008. The meeting was chaired by the FATF President, Sir. James Sassoon. Key outcomes from the meeting include: a statement on deficiencies in the anti-money laundering (AML) and counter-terrorist financing (CFT) systems in Uzbekistan, Iran, Pakistan, São Tomé & Príncipe and Turkmenistan which also draws attention to the AML/CFT risks in the northern part of Cyprus; welcoming the Caribbean Financial Action Task Force as an FATF associate member; publication of a study on terrorist financing methods and trends; release of new guidance to support the efforts of low capacity countries to implement the FATF Standards; agreement to conduct new projects and initiatives with the private sector; and publication of reports on the anti-money laundering and counter-terrorist financing systems of Canada and Singapore. At a meeting of all FATF Ministers in Washington DC in April 2008, it is expected that a revised mandate will be adopted for the FATF, setting out future strategic priorities.