Under the Presidency of Giancarlo Del Bufalo of Italy, the FATF achieved two major milestones during this Plenary year:
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 Guidance; Specific 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.
last updated: 11 Oct. 2012
FATF Annual Report: 2011-2012
Giancarlo Del Bufalo, Italian Presidency, annual report