Financial Action Task Force Sets out Priorities for 2020-2022

The new German Presidency of the Financial Action Task Force commences today and has set out its objectives for 2020-2022. These include:
 

• Studying the opportunities and challenges that the worldwide transformation in digital technology may bring to the field of anti-money laundering and counter-terrorism financing;
• Improving the understanding of how ethnically or racially motivated terrorism attacks are funded;
• Studying the funding of, and ML/TF activities related to, migrant smuggling;
• Analyzing the funding of environmental crime (including illegal logging, illegal wildlife trade and waste management) in order to raise awareness of ML/TF risks; and
• Strengthening the FATF's understanding of the links between illicit arms trafficking and TF in order to enhance operational responses.

The new Presidency will also aim to complete ongoing initiatives such as work on confiscation and asset recovery, beneficial ownership and proliferation financing.

The German Presidency takes over from the Chinese Presidency, which held its final Plenary meeting on June 24, 2020. The FATF has published details of the Chinese Presidency's final Plenary discussions, which covered topics such as ML/TF risks of virtual assets, the FATF's report to the G20 on so-called stablecoins and the promotion of more effective AML/CTF supervision at national level.

View the FATF's 2020-2022 objectives.

View the FATF's statement on the Chinese Presidency's final Plenary.

View details of the FATF's report to the G20 on so-called stablecoins.

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