On 1st July, FATF published a statement as China takes the Presidency of the FATF in the year of its 30th Anniversary. The work programme includes best practices to improve the transparency of beneficial ownership; the mutual evaluations of Russia, Turkey, UAE, Korea, Japan and South Africa; and the first 5th year follow-up assessments of effectiveness for Norway, Spain, Australia, Belgium and Malaysia. It also says that FATF may consider the opportunity for work on money laundering from illegal wildlife trafficking, which is estimated to be the 4th most profitable criminal trafficking enterprise, generating revenues of between $7 billion and $23 billion a year, with links to modern slavery, narcotics and the arms trade. FATF work in this area could build on recent work by the FSRB (regional bodies) and current international initiatives. It will also conduct a strategic review of its core work. The review will focus on the mutual evaluation and follow-up processes, and will consider experience from the evaluations done to date, and it will inform agreement by the FATF Plenary on the future of this work after the current round. It says it will also develop the methodology for countries to be assessed against the standard for virtual assets, and it will start assessing FATF members for effective compliance with it.