FATF-GAFI.ORG - Financial Action Task Force (FATF)

Time 2020-10-02 19:04:37

Web Name: FATF-GAFI.ORG - Financial Action Task Force (FATF)

WebSite: http://www.fatf-gafi.org

ID:67908

Keywords:

ORG,GAFI,FATF,

Description:

Since the 2017 assessment of Sweden s measures to tackle money laundering and terrorist financing, and their follow-up report in 2018, the country has taken a number of actions to strengthen its framework. Since its mutual evaluation in 2019, the People's Republic of China has worked to improve the effectiveness of its national framework to combat money laundering and terrorist financing. Recent press reports about the disclosure of confidential information from a FATF member s Financial Intelligence Unit have put a spotlight on the crime of money laundering. The FATF has identified red flag indicators to help detect whether virtual assets are being used for criminal activity. These indicators are based on more than 100 case studies collected by members of the FATF Global Network. Virtual assets FATF has issued global, binding standards to prevent the misuse of virtual assets for money laundering and terrorist financing. The standards ensure that virtual assets are treated fairly, applying the same safeguards as the financial sector. Terrorist Financing Combatting terrorist financing is top priority for the FATF, and a key part of the FATF s objectives in strengthening financial sector integrity and contributing to safety and security.FATF's focus on terrorist financing FATF Standards The FATF Recommendations, the international anti-money laundering and combating the financing of terrorism and proliferation (AML/CFT) standards, and the FATF Methodology to assess the effectiveness of AML/CFT systems.FATF Recommendations 2012-amended June 2019Methodology 2013-amended October 2019Procedures for the FATF Fourth Round of AML/CFT Mutual Evaluations- amended October 2019Consolidated Processes and Procedures for Mutual Evaluations and Follow-Up (Universal Procedures)-amended October 2019

TAGS:ORG GAFI FATF 

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