MITIGATING THE UNINTENDED CONSEQUENCES OF THE FATF STANDARDS

On 17 March, FATF said that it had launched a new project to study and mitigate the unintended consequences resulting from the incorrect implementation of the FATF Standards.  In Phase 1 the project team will analyse these unintended consequences resulting from the misuse of the FATF AML/CFT Standards. This work will draw on the knowledge and experiences of members of the FATF’s Global Network of 205 jurisdictions, its observers, and outside stakeholders.  The second phase will develop options the FATF could consider to prevent and mitigate these unintended consequences.  It is said that FATF welcomes input to inform this project, and provides an email address to which to send submissions.

https://www.fatf-gafi.org/publications/financialinclusionandnpoissues/documents/unintended-consequences-project.html

If you would like to make a modest contribution for my time and ongoing expenses, I have a page, where contributions start as low as $3, at https://www.buymeacoffee.com/KoIvM842y

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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