FATF has published the outcomes of its plenary meeting in Paris. The main issues dealt with by this plenary were:

  • combating terrorist financing, which remains the top priority for FATF;
  • the mutual evaluation report of Italy on compliance with FATF recommendations;
  • a statement on FATF action to tackle de-risking;
  • endorsement of general principles for establishing the Training and Research Institute (TREIN);
  • expansion of the FATF global network – recognising the task force on money-laundering in Central Africa (GABAC) as an FATF-style regional body;
  • two public documents identifying jurisdictions that may pose a risk to the international financial system:
    • jurisdictions with strategic anti-money laundering and combating the financing of terrorism (AML/CFT) deficiencies for which a call for action applies; and
    • jurisdictions with strategic AML/CFT deficiencies for which they have developed an action plan with FATF;
  • an update on AML/CFT improvements in Ecuador and Sudan; and
  • adoption of the following documents:
    • Money Laundering through the Physical Transportation of Cash;
    • Guidance on Data and Statistics; and
    • Guidance on the Risk-Based approach for Effective Supervision and Enforcement by AML/CFT Supervisors of the Financial Sector and Law Enforcement.

(Source: FATF Outcomes from Paris Plenary)