MER, Evaluation, assessment, Singapore

Following the adoption of its second Mutual Evaluation (MER) in October 2008, and in accordance with the normal FATF follow-up procedures, Singapore was required to provide information on the measures it has taken to address the deficiencies identified in the MER. Since October 2008, Singapore has been taking action to enhance its AML/CFT regime in line with the recommendations in the MER. The FATF recognizes that Singapore has made significant progress and that Singapore should henceforward report on a biennial basis on the actions it will take in the AML/CFT area.

ICRG, strategic AML/CFT deficiencies

As part of its ongoing review of compliance with the AML/CFT standards, the FATF has identified jurisdictions which have strategic AML/CFT deficiencies for which they have developed an action plan with the FATF.

MER, assessment, evaluation, peer review, netherlands, nederland

The FATF has completed and adopted the third mutual evaluation of the AML/CFT system in the Netherlands. The AML/CFT system of the Netherlands is largely in line with the FATF requirements but some shortcomings in the legal framework and the implementation of already existing measures need to be addressed. The evaluation was conducted by the International Monetary Fund and adopted by the FATF.

MER, France, Mutual Evaluation, Assessment

The FATF has completed and adopted the third mutual evaluation of the AML/CFT system in France. France has over the past several years continually strengthened, refined and expanded its system. France’s overall degree of compliance with the FATF 40+9 Recommendations is very high, particularly in the financial sector and in the legal area. France should now focus its efforts on certain non-financial professions that still have to improve their level of compliance with the standards. Taking into account the high quality and overall effectiveness of the French system, France will henceforth report back to the FATF on a biennial basis on the further evolution of its AML/CFT system which now ranks as one of the most robust in the FATF.

Summary, Outcomes, Plenary, February 2011, Luis Urrutia Corral

The Chairman's summary provides an overview of the major outcomes of the meeting of the FATF Plenary, during which the mutual evaluations of France and the Netherlands were approved.