FATF REPORT TO G20 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS

On 30th March, Shearman & Sterling published an article saying that FATF has published its report to G20 Finance Ministers and Central Bank Governors.  In the report, FATF reiterates its commitment to tackle all sources, techniques and channels used in terrorist financing and to continue its work to increase financial transparency and improve the environment for remittances.  The report provides an update on workstreams –

  • strengthening the FATF’s institutional basis, governance and capacity;
  • countering the financing of terrorism and proliferation;
  • improving transparency and the availability of beneficial ownership information;
  • supporting financial inclusion and access to regulated financial services;
  • bank de-risking and the impact on remittances;
  • FATF engagement with judges and prosecutors to improve the effectiveness of the criminal justice system; and
  • the risks and opportunities of FinTech, RegTech and virtual currencies

A further update will be provided in November/December 2018.

https://www.jdsupra.com/legalnews/financial-action-task-force-report-to-20877/

The report is available at –

http://www.fatf-gafi.org/media/fatf/documents/FATF-G20-FM-CBG-March-2018.pdf

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s