On 18 July 2018, the Financial Action Task Force (FATF) published its report to the July 2018 G20 Finance Ministers and Central Bank Governors’ meeting. The report sets out FATF’s ongoing work to fight money laundering and terrorist financing. Such work includes de-risking and money laundering and terrorist financing risks of virtual currencies / crypto assets.
On the same date FATF also published a report on the concealment of beneficial ownership. The report uses over 100 case studies provided by 34 different jurisdictions of the FATF global network, the experiences of law enforcement and other experts, private sector input the private sector as well as open source research and intelligence reports to identify the methods that criminals use to hide beneficial ownership.
On 19 July 2018, FATF published a President’s paper on anti-money laundering and counter terrorist financing for judges and prosecutors. The paper identifies the challenges that judges and prosecutors face in investigating and prosecuting money laundering and terrorist financing, and in recovering the proceeds of crime.