Annual Report 2016-2017

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English

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Topic

FATF Annual Report 2016-2017

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FATF-annual-report-2016-2017.pdf
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8 MB
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application/pdf
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Annual Report 2016-2017

Under the Spanish Presidency of, the FATF achieved a number of important outcomes, which are set out in the FATF Annual Report 2016-2017

Among these outcomes are:

Terrorist financing - During this Plenary year, tackling the threat of terrorist financing continued to be a priority for the FATF, which included the publication of a new Guidance on Criminalising Terrorist Financing to help countries fully and effectively criminalise this serious threat. 

Methods and Trends - The FATF continuously updated its knowledge on new terrorist financing methods and trends, which included a research project on Terrorist Financing in West and Central Africa, a region particularly affected by the one of the most deadliest terrorist organisations, Boko Haram.

Revision to the standards and new guidance - This year, the FATF revised the interpretive note to Recommendation 5 on terrorist financing, and issued a guidance to help countries with the implementation of this Recommendation. FATF also revised the Interpretive note to Recommendation 7 and issued Guidance on Correspondent Banking on correspondent banking services.

Mutual Evaluation Process - During this Plenary year, the FATF adopted the mutual evaluation reports of Denmark’s measures to combat money laundering and the financing of terrorism and proliferation, Ireland's measures to combat money laundering and the financing of terrorism and proliferation, Sweden's measures to combat money laundering and terrorist financing, Measures to combat money laundering and the financing of terrorism and proliferation in Switzerland, United States' measures to combat money laundering and terrorist financing which set out the effectiveness and technical compliance of each country's measures to combat money laundering and terrorist financing.