Intervention by Dr Marcus Pleyer
Chair, thank you!
Excellencies, Ministers, Governors, colleagues!
Congratulations on a successful start of the Italian G20 Presidency! The FATF appreciates the Presidency’s focus on people, planet and prosperity. For the G20’s objective – a resilient, inclusive and sustainable recovery – the FATF stands ready to help protecting our economies from illicit funds.
We will strongly contribute to the Italian Presidency’s priority on financial inclusion. Financial exclusion not only has a real human impact. It also poses serious risks to the integrity and sustainability of our financial system, when financial transactions are pushed underground. Our risk-based approach ensures that people are not unfairly excluded, while maintaining effective anti-money laundering measures. The FATF looks forward to working on this issue with the Italian G20 Presidency and the Global Partnership for Financial Inclusion.
The FATF commends the Italian Presidency’s focus on digitalisation in financial services. This has been and will remain at the forefront of the FATF’s work:
We also strongly contribute to the G20’s Roadmap for Enhancing Cross-Border Payments. We will share our results with our project partners in the coming months.
Two final points:
Let me conclude by calling for the G20 to keep sight of the vital need to step up the fight against illicit financial flows by fully and effectively implementing FATF standards. This is more than ever important in the pandemic when we see Covid-19 connected financial crimes on the rise.