Documents

FATF Annual Report 2011-2012

Under the Presidency of Giancarlo Del Bufalo of Italy, the FATF achieved two major milestones during this Plenary year: 

  • New international standards on combating money laundering, the financing of terrorism and the financing of proliferation of weapons of mass destruction: the FATF Recommendations
  • A new mandate for the FATF for a further eight years, until 2020. 

The adoption of the new FATF Recommendations is the culmination of a complex process that started in 2009 and that involved member governments, private sector and civil society. 

Some of the other outcomes during this Plenary year were the publication of three typologies research studies: Operational Issues - Financial Investigations GuidanceSpecific Risk Factors in Laundering the Proceeds of Corruption and Illicit Tobacco Trade.  The FATF also published its first Best Practices Paper for the new FATF Recommendations : Sharing among domestic competent authorities information related to the financing of proliferation.   

The FATF welcomed the Groupe d'Action Contre le Blanchiment d'Argent en Afrique Centrale (GABAC) as a new FATF observer organisation, which will help extend the fight against money laundering and terrorist financing into this region of the world.