France held the Presidency of the second Plenary year of the FATF.
During this Plenary year, the delegations agreed to continue the FATF for a period of five years, with a decision to review progress after three years, and to reconsider the continuing need, mission, and work program for this specialised group.
The group agreed to four ongoing tasks:
- self-reporting and mutual assessment (monitoring and surveillance) on the adoption and implementation of FATF recommendations by all members;
- co-ordination and oversight of efforts to encourage non-members to adopt and implement the recommendations;
- making further recommendations and evaluations of counter-measures while serving as a forum for considering developments in money laundering techniques domestically and world-wide, and for the exchange of information on enforcement techniques to combat money laundering
- standing ready to facilitate cooperation between organisations concerned with combating money laundering and between individual countries or territories.
FATF Annual Report 1990-1991