Financial Action Task Force (FATF)

Watch new FATF President Elisa de Anda Madrazo talk about the FATF’s Strategic Priorities and the issues she plans to focus on over the next two years of her Presidency. #AML #CFT #Followthemoney

Just out, first FATF global analysis comparing how the professions of law, accountancy, trust and corporate services, and real estate are covered by anti-money laundering and counter-terrorism financing frameworks across FATF member countries. Over the past decade 30 FATF members have taken additional steps to regulate these “gatekeepers”, bringing FATF members’ compliance to 74%. But 7 FATF members, representing more than half of the world’s GDP (50.89%), score under 50%. On a global level, even a few significant jurisdictions with weak compliance can greatly affect the risk picture and open the door to corruption and money laundering. These materially significant jurisdictions need to do better given the global reach of their economies. The report says that FATF members still lagging behind must urgently ensure that gatekeepers are adequately covered in line with the FATF’s longstanding Recommendations in this area. Read more here https://lnkd.in/eZRdDzud #AML #CFT #Followthemoney

🌍 The Egmont Group, represented by Chair Ms. Elżbieta Franków-Jaśkiewicz and Executive Secretary Mr. Jérôme Beaumont, was happy to take part in the 35th Financial Action Task Force (FATF) Plenary, hosted by the delegation of Singapore under the presidency of T Raja Kumar. 💪 Between June 23-28, the Egmont Group, in its capacity as an Observer, supported several essential AML/CFT initiatives. Moreover, the Egmont Group is pleased to continue its joint work with FATF through the new project on Effective Informal International Cooperation. 👏 In addition, the EG extends its gratitude to T. Raja Kumar, FATF President, and the Singapore Presidency for their unwavering efforts in strengthening the AML/CFT global network. We especially appreciate their initiatives dedicated to asset recovery, such as the FIRE (Financial Investigations and Recovery Efforts) events, which have significantly contributed to enhancing global cooperation and effectiveness in asset recovery. The EG remains dedicated to supporting FIUs in their ongoing efforts to improve the asset recovery process. 🎉 We also extend our best wishes to Elisa de Anda Madrazo in her new role as FATF President. The Egmont Group remains steadfast in our support, as we were with T. Raja Kumar, to advance our shared objectives and we will support the incoming Chair’s proprieties. 🤝 We remain committed to engaging with @FATF, as one of our strategic partners, to continue strengthening FIUs’ capacity and the resilience of the Global AML/CFT Network. INTERPOL The World Bank International Monetary Fund International Association of Prosecutors The Wolfsberg Group   #amlcft #financialinvestigation #financialintelligence #FATF #followthemoney #cooperation #moneylaundering #terroristfinancing

The FATF is updating its guidance on National Risk Assessments (NRA) for Money Laundering. A National Risk Assessment (NRA) is a comprehensive process to identify, assess, and understand the risks of Money Laundering (ML) and Terrorist Financing (TF). It guides effective policymaking, resource allocation, and AML/CFT measures. We invite the private sector, civil society, and academia to share their insights by 22 July 2024, 18:00 CET. Access more details and the questionnaire: 🔗 bit.ly/FATF-NRA Help shape the FATF's updated NRA guidance by sharing your experiences and insights. #AML #CFT #FATF #FollowTheMoney

Elisa de Anda Madrazo of Mexico assumes the Presidency of the FATF from July 2024 to June 2026. Under her Presidency, the principles of inclusiveness, diversity & transparency will steer FATF’s work on governance, standards revisions & guidance, and engagement with stakeholders. #Followthemoney #terrorismfinancing

Watch the live press conference on outcomes of FATF Singapore Plenary from 17:00 Singapore time today on YouTube https://lnkd.in/gmatZTDX #Followthemoney #terrorismfinancing #proliferationfinancing

Following yesterday's launch in Singapore of Breaking Barriers, read more stories about leaders in the FATF and its Global Network. You can download the full book too at https://lnkd.in/gx8N4Ksn #Followthemoney #Terrorismfinancing #proliferationfinancing

Discussions ongoing at the Singapore Plenary #Followthemoney #terrorismfinancing #proliferationfinancing

FATF President #TRajaKumar recently joined The Laundry podcast, hosted by Marit Rødevand from Strise, to delve into the crucial role of the FATF in safeguarding our global financial system. This conversation is packed with insights and behind-the-scenes details you won’t want to miss. Some key takeaways from the discussion: Grey listing’s True Impact: how FATF’s process not only identifies risks but also helps countries strengthen their financial systems, driving long-term economic benefits. Asset Recovery Revolution: with less than 1% of criminal proceeds currently recovered, FATF is pioneering new strategies to ensure that crime truly doesn’t pay. Staying Ahead with Technology: evolving FATF standards designed to tackle the fast-paced changes in payment systems and cyber-enabled crime. Transparency Matters: highlighted the importance of beneficial ownership transparency in unmasking hidden assets and fighting financial crime. Global Cooperation: The importance of international collaboration with organisations like #Interpol and #UNODC cannot be overstated in our fight against large-scale crime. Why listen? Get a unique perspective on FATF’s mission and its President. Understand the future challenges and opportunities in global financial crime prevention. 👉 Tune in now on your favourite podcast platform! 🔗 https://lnkd.in/eWSeYeuq #Followthemoney #terroristfinancing #proliferationfinancing

Heads of Delegation of FATF and Global Network at the Plenary #Followthemoney #moneylaundering #terrorismfinancing #proliferationfinancing