The Financial Action Task Force (FATF) has published the outcomes of the plenary meeting that it held in Paris during 25-27 February 2015. The outcomes states that the main issues dealt with by FATF during this plenary were:
- issuing a statement on FATF action on terrorist finance;
- adopting and publishing a report on the financing of Islamic State in Iraq and the Levant;
- producing two public documents identifying jurisdictions that may pose a risk to the international financial system: (i) jurisdictions with strategic anti-money laundering and combating the financing of terrorism (AML/CFT) deficiencies for which a call for action applies; and (ii) jurisdictions with strategic AML/CFT deficiencies for which they have developed an action plan with the FATF;
- receiving an update on AML/CFT improvements in Albania, Cambodia, Kuwai, Namibia, Nicaragua, Pakistan and Zimbabwe;
- discussing the fourth round of mutual evaluation reports on compliance with the FATF Recommendations of Australia and Belgium;
- increasing collaboration between FATF and the Egmont Group of Financial Intelligence Units;
- reviewing the voluntary tax compliance programmes in several jurisdictions;
- continuing its work on the ‘de-risking’, in line with the effective implementation of a risk-based approach; and
- building on the 2014 report on virtual currencies, the FATF wants to progress this issue for a decision at the June 2015 Plenary.
View Outcomes of the Plenary meeting of the FATF, Paris, 25-27 February 2015, 27 February 2015
