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.


The report is available at –


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

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