Documents

24 Oct 2014

FATF action on the terrorist group ISIL

ISIL

The FATF expressed concern with the financing generated by and provided to the terrorist group the Islamic State of Iraq and the Levant (ISIL). FATF experts will work together to gain a better insight into sources and methods of funding of ISIL.

24 Oct 2014

Improving Global AML/CFT Compliance: on-going process – 24 October 2014

The FATF identified jurisdictions which have strategic weaknesses in their anti-money laundering and counter terrorist financing (AML/CTF) framework. These countries have developed an action plan with the FATF to address these AML/CTF weaknesses. FATF congratulates Argentina, Cuba, Ethiopia, Tajikistan and Turkey for the strategic progress made in addressing the AML/CFT deficiencies earlier identified by the FATF.

24 Oct 2014

Outcomes of the Plenary meeting of the FATF, Paris, 22-24 October 2014

During the first Plenary meeting under the Australian Presidency, the FATF adopted a number of reports, such as a guidance on transparency and beneficial ownership and risk-based approach guidance for the banking sector. It reviewed voluntary tax compliance programmes in several jurisdictions and updated its statements concerning high-risk and non-cooperative jurisdictions.

24 Oct 2014

Public Statement - 24 October 2014

icrg

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 member to consider the risks emanating from Algeria, Ecuador, Indonesia and Myanmar.

23 Oct 2014

FATF clarifies risk-based approach: case-by-case, not wholesale de-risking

The FATF Plenary discussed the issue of de-risking and published a statement emphasizing that the risk-based approach should be the cornerstone of an effective system to combat money laundering and the financing of terrorism, and is essential to properly managing risks.

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