The FATF continues to emphasise the anti-corruption agenda, while avoiding duplication of the role of mandated anti-corruption bodies. Part of that work is focused on bringing together anti-money laundering and counter-terrorist financing (AML/CFT) experts and anti-corruption (AC) experts for the purpose of discussing issues of mutual interest.
The FATF and the G20 Anti-Corruption Working Group jointly convened an Experts' Meeting on Corruption on Saturday, 12 October 2013. In this meeting, which was chaired by the President of the FATF, Mr. Vladimir Nechaev (Russian Federation), 95 delegates from 27 jurisdictions and 15 organisations participated.
The Co-Chairs of the G20 Anti-Corruption Working Group—Mr. Dmitry Feoktistov of the Russian Federation and Ms. Barbara Martin of Canada—reiterated the support of G20 for FATF work to combat corruption, and welcomed continued engagement on these issues. They also noted that G20 Leaders’ Declaration from the September 2013 St. Petersburg Summit highlights that leveraging AML/CFT measures to fight corruption will remain a significant area of growing cooperation between AC experts of the G20 and the FATF.
The key objectives for this meeting were:
- To discuss the FATF’s draft Best Practices Paper on the Use of the FATF Recommendations to Combat Corruption and incorporate the feedback received from AC experts to enhance the paper.
- To identify key challenges in determining the beneficial ownership of legal persons and arrangements in corruption cases, including the problems caused by the lack of transparency and beneficial ownership information, and what effective measures can be implemented to overcome these challenges.
- To build on the previous discussions between the FATF and the G20 on issues related to combating corruption, and leveraging synergies between AML/CFT and AC efforts.
President's Summary of Outcomes from the Experts’ meeting on Corruption, 13 October 2013 to see the complete summary of outcomes of the meeting.
This is the third time that the FATF has held such an event with the participation of the G20 ACWG, and this meeting built on the discussions of the previous meetings. The first FATF Experts Meeting was held in President's Summary of Outcomes from the Expert's meeting on Corruption, 27 February 2011 under the Mexican FATF Presidency and was the first international platform for exchanging views between operational-level AML/CFT and anti-corruption experts. The second was held in President's Summary of Outcomes from the Experts’ meeting on Corruption under the Norwegian Presidency where the focus was on specific issues related to international cooperation, specifically in the context of money laundering cases involving the proceeds of corruption and asset recovery.