China has the foundation for a sound system to tackle money laundering and terrorist financing but should strengthen its financial intelligence unit and use of financial intelligence.
Finland’s measures to combat money laundering and terrorist financing are delivering good results, but the country needs to improve supervision.
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FATF Ministers, chaired by US Secretary of the Treasury Mnuchin, adopted a new open-ended mandate for the FATF and its role leading global action to counter money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction.
This report provides an update on FATF’s efforts to fight money laundering and the financing of terrorism and proliferation. It also sets out ongoing work to strengthen FATF’s institutional basis, governance and capacity.
To support financial innovation that is resiliant to money laundering and terrorist financing, the FATF has launched a new platform to share initiatives and developments for the benefit of governments and the private sector more broadly: FATF FinTech and RegTech Initiative
The FATF has identified jurisdictions with strategic deficiencies in their frameworks to combat money laundering and the financing of terrorism and proliferation: jurisdictions for which an FATF call for action applies and other monitored jurisdictions.
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
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.
