FATF Annual Report 2001-2002

Mrs Clarie Lo of Honk Kong, China, held the Presidency of the thirteenth Plenary year of the FATF.

Following the events of 11 September 2001, the FATF met in an extraordinary session on 29-30 October 2001 in Washington DC to consider the necessary steps for preventing and combating terrorist financing activity.  As a result of this meeting, the mandate of the FATF was expanded to include terrorist financing, and the new international standards for combating terrorist financing - the Eight Special Recommendations - were established. 

Some of the other achievements during the Plenary year were:

• Significant progress in the work on non-cooperative countries or territories (NCCTs)
• Development of collabroation with the international financial institutions
• The publication of a consultation paer on the review of the FATF Recommendations

FATF Annual Report 2001-2002