FATF Week from 18-23 February 2018

The FATF will meet for six days of meetings to discuss important issues to protect the integrity of the global financial system and contribute to safety and security.  The meetings will involve over 700 delegates from the 203 jurisdictions of the FATF Global Network, as well as the UN, IMF, World Bank and other partners.

The week’s meetings will conclude with the second Plenary meeting under the Argentinean Presidency of  Santiago Otamendi, on 21-23 February.  Among many other issues, the discussions during the Plenary will focus on:

Counter-terrorist financing: We will discuss a new counter-terrorist financing operational plan that will set out the actions the FATF will be taking in response to the changing terrorist financing threats. The new operational plan will provide a forward looking and comprehensive plan of action for FATF in tackling terrorist financing, which continues to be the FATF’s top priority.

Proliferation financing: We will discuss FATF’s efforts to help prevent UN-sanctioned entities from using the financial system to support their programmes to develop weapons of mass destruction. We will discuss new guidance to help public and private sector understand and implement the obligations of the United Nations Security Council Resolutions so that proliferation-related assets are frozen.

Iceland, Norway and Spain:  We will review the mutual evaluation of Iceland and the effectiveness of the country’s efforts to tackle money laundering and terrorist financing. We will review the actions that Norway and Spain have taken to address the deficiencies identified in their 2014 assessments. We will discuss and update our statements identifying high-risk and other monitored jurisdictions.

FATF will discuss its engagement with the FinTech and RegTech sectors and future steps to support responsible innovation. FATF Heads of Financial Intelligence Units  will discuss the issue of FIU independence and autonomy, and how to improve the quality of financial intelligence, including through the use of IT solutions.