Outcomes FATF Plenary, 11-13 February 2026

These jurisdictions (Jurisdictions under Increased Monitoring - 13 February 2026) are actively working with the FATF and the Global Network to address the strategic deficiencies in their regimes to counter money laundering, terrorist financing and proliferation financing. When the FATF places a jurisdiction under increased monitoring, it means the country has committed to implement an Action Plan to swiftly resolve the identified strategic deficiencies within agreed timeframes. 

At this Plenary, the FATF added Kuwait and Papua New Guinea to the list of jurisdictions under increased monitoring.

The FATF identifies countries or jurisdictions with serious strategic deficiencies to counter money laundering, terrorist financing, and proliferation financing. These jurisdictions are subject to a call for action (High-Risk Jurisdictions subject to a Call for Action - 13 February 2026) to protect the international financial system.

The FATF has updated its public statement on Iran.

The Plenary discussed and adopted reports of the FATF mutual evaluations of Austria (led by the International Monetary Fund) and Italy, and the joint FATF-Asia-Pacific Group (APG) mutual evaluation of Singapore. These assessed the effectiveness of the countries’ measures to combat money laundering, terrorist financing and proliferation financing, and compliance with the FATF Recommendations. The reports will be published in April – May 2026 following a global quality and consistency review.

The new, more risk-based assessments, place greater emphasis on countries’ results in tackling money laundering, terrorist financing and proliferation financing. Under the new round of assessments, relevant countries will have a timebound Roadmap of Key Recommended Actions to strengthen the effectiveness of their defences against illicit finance within three years. 

The FATF approved a paper on cyber-enabled fraud which highlights the escalating fraud threat facing the globe, and the harm done to victims. As fraudsters continue to make use of digital innovations to accelerate the scale, speed, and complexity of fraud, partners across the anti-money laundering and countering terrorist financing and proliferation financing (AML/CFT/CPF) regime must also leverage innovative techniques to better prevent fraud, return victims’ money and bring perpetrators to justice. Recognising these evolving threats, FATF has committed to focusing on fraud over the next few years.

As technology continues to evolve and in recognition of the inherently cross-border nature of virtual assets, the Plenary approved two new reports, to be published next month, that will help countries address emerging risks and support responsible innovation in finance.

A report on Understanding and Mitigating the Risk of Offshore Virtual Asset Service Providers (oVASPs) will explore risks associated with the unregulated provision of offshore VASP services. The report will look at how gaps and differences in regulatory and supervisory coverage are exploited by criminals and set out what governments can do to address this.

A Targeted Report on Stablecoins and Unhosted Wallets will examine emerging risks associated with stablecoins, which have grown rapidly in global scale, reach and importance in recent years. It makes recommendations to help countries and the private sector mitigate risks, including where stablecoins are being moved through peer-to-peer transactions. 

In preparation for the next biennium, delegates discussed and agreed specific areas of focus for the FATF to deliver on its mandate to help jurisdictions keep pace with evolving threats and ensure that crime does not pay.

The FATF’s Strategic Priorities will be presented to FATF Ministers for endorsement at the upcoming FATF Ministerial meeting in April.

This week, the Plenary decided to appoint Mr Giles Thomson of the United Kingdom as the next President of the FATF, for a fixed two-year term.

FATF members took this decision following a comprehensive process which included consultations with all delegations. Mr Thomson, who has served as Vice-President of the FATF since 1 July 2025, will take up duties on 1 July 2026, the day after the two-year Presidency of Ms Elisa de Anda Madrazo concludes.

This week, the Plenary agreed on a set of measures to increase FATF-Style Regional Bodies’ (FSRBs) voice and participation in FATF’s work. This will ensure continued strengthening of and greater cohesion across the Global Network of over 200 jurisdictions to help achieve shared objectives and priorities of combatting illicit finance.

The FATF suspension of the Russian Federation continues to stand (see February 2024 statement). 

Photos of the meeting are available on Flickr.