Terrorist financing on the agenda for FATF Plenary week 17-23 October

PARIS, 20-10-2015 — /EuropaWire/ — Terrorist financing is high on the agenda for the FATF Plenary week, which starts on Saturday 17 October. This will be the first Plenary meeting under the Korean presidency of Mr. Je-Yoon Shin.

The week of meetings will start off with the annual experts’ meeting on corruption, which brings together anti-money laundering and counter-terrorist financing (AML/CFT) experts, anti-corruption (AC) experts, and for the first time, members from the private sector.

Throughout the week’s meetings, and during the Plenary meeting on 21-23 October, delegates from the more than 180 members of the FATF and the FATF-Style Regional Bodies, will work through a full agenda that includes:

• Terrorist financing, one of the FATF’s key priorities. Delegates will discuss the results of FATF’s review of the level of implementation of the FATF standards on criminalising terrorist financing and freezing terrorists assets by the members of the FATFs global network, as reported to the G20; a report on emerging terrorist financing risks; and decide on further action to prevent the abuse of the financial sector for terrorist financing.
• The outcomes of the mutual evaluation report of Italy. This report assesses Italy’s measures to combat money laundering and terrorist financing, and makes recommendations to further strengthen these measures.
• Derisking. The FATF will discuss this issue and decide on further action in conjunction with other international organisations to ensure a correct risk-based application of the FATF Standards.
• The FATF will also consider the following reports:
  • Risk-based approach for effective supervision and enforcement by financial supervisors and law enforcement (guidance)
  • Money laundering through the physical transportation of cash (typologies)

The FATF sets standards and promotes effectiveness implementation of legal, regulatory and operational measures for combating money laundering, terrorism financing and other related threats to the integrity of the international financial system.

For further questions, journalists should contact Alexandra.wijmenga-daniel@fatf-gafi.org of the FATF Secretariat.

SOURCE: FATF-GAFI