FATF Watch

There appears to be a problem with the #MENAFATF website - looked as if the domain was up for renewal last week and now an error message.

The FATF “unintended consequences” report is out. Of course, that’s only unintended consequences of “misapplication” of the Standards, not that there might be adverse consequences of the Standards themselves, despite their restrictive nature.

The official outcomes of this week’s FATC plenary are here. Lots to digest! fatf-gafi.org//publications/…

New FATF guidance on implementation of Recs relating to virtual assets will be published next week.

FATF will “encourage”, not require, public registries of beneficial ownership in proposed amendments to Standards: FATF President

FATF post-plenary presser is being live-streamed on their website.

FATF to consult on changes to beneficial ownership requirements in advance of next Plenary in February.

FATF announces “grey-listing” of Jordan, Mali and…Turkey at close of this week’s Plenary meeting.

What is the FATF? It's the global money laundering and terrorist financing watchdog. It sets standards for more than 200 countries & jurisdictions to help combat serious crime. This week, the FATF is holding its virtual plenary meeting. See more here➡️bit.ly/3qcklE7

FATF press brief being live-streamed here oecdtv.webtv-solution.com/7546/or/_virtu…

Breaking: the Financial Action Task Force has added Cayman Islands to its "greylist" of jurisdictions with major deficiencies in their anti-money laundering regimes. The UK overseas territory also topped the @TaxJusticeNet's 2020 Financial Secrecy Index.

Speaking virtually to the OSCE Counter-Terrorism Conference in Vienna, FATF President Marcus Pleyer emphasised how new digital technologies can potentially help speed up terrorist financing probes #FollowTheMoney

FATF’s latest business bulletin has lots about what the FATF is and has been doing, but nothing new by way of guidance for businesses. A handy reference, nonetheless.

FATF public consultation on targeted financial sanctions.

FATF has completed a review of the implementation of its revised Standards on virtual assets and virtual asset service providers, 12 months after they were introduced. Good effort in the current crisis! fatf-gafi.org/publications/f…

And here is the new President of the FATF, the first who will hold the position for two years, rather than one. One of his first priorities should be to complete the Strategic Review of the FATF assessment process.

Final statement from the outgoing FATF President as China hands over the reins to Germany.

The illegal wildlife trade generates revenues of up to $23 billion a year. It has links to modern slavery, drugs and the arms trade. A new FATF report finds it is a “global threat” and financial investigations are key to dismantling it ➡️ bit.ly/31cJYtW 1/ #wildlife

Our friends at RUSI have launched a new series of their podcast, the Suspicious Transaction Report. This season's theme is 'High Risk Thinking' and who better to start with than Graham Barrow.

Notable that the FATF has given up on any pretence that their institute in Korea was about research as well as training, but here’s an opportunity for those interested running training for the FATF club.