FATF Annual Report 2019-2020
The FATF Annual Report 2019-2020 sets out the achievements of the FATF under the Presidency of Mr. Xiangmin Liu of China.
The global COVID-19 pandemic led to unprecedented and devastating challenges, claiming lives and causing catastrophic economic disruptions. The FATF continued to deliver its crucial work, including highlighting new threats and vulnerabilities emerging during the crisis.
Among this year's achievements are:
COVID-19 - A report on the impact of COVID-19 on anti-money laundering and counter-terrorist financing measures
Virtual assets and so-called stablecoins - Guidance to help virtual asset service providers implement the FATF’s new requirements for this sector; a 12-month review on the implementation of these revised standards, and a report to the G20 on money laundering and terrorist financing issues associated with so-called stablecoins.
Digital identity - Guidance to help governments and the private sector promote effective and responsible use of digital IDs in customer due diligence as well as supervision.
Methods and trends - A milestone report on money laundering and the illegal wildlife trade which identifies the common methods wildlife traffickers use to launder their money, and highlights proposed actions that countries and the private sector can take to combat this trade.
Training - A new e-learning platform for the Global Network membership which will help strengthen global understanding of the FATF Standards and improve their implementation in national frameworks.
Mutual evaluation process - The FATF published 6 mutual evaluation reports and the follow-up reports of 7 of its members.