Responsible Finance Forum

FATF Report to the G20 Finance Ministers and Central Bank Governors

01 March 2018
Source:  Financial Action Task Force

According to ASBA’s Survey on banking regulation and supervision expectations for 2018, de-risking is a regional priority, as well as the sound implementation of the anti-money laundering and counter-terrorism financing standards. The Financial Action Task Force (FATF) published the FATF Report to the G20 Finance Ministers and Central Bank Governors setting out the FATF’s recent and ongoing work to fight money laundering and terrorist financing, particularly in the following areas: Strengthening its institutional base, governance and capacity building; improving transparency and the availability of beneficial ownership information; supporting financial inclusion and access to regulated financial services; bank de-risking and the impact on remittances; improving the effectiveness of the criminal justice system; FinTech, RegTech and virtual currencies. In this sense, it is relevant for Associate Members to compare the global efforts on AML/CFT with the regional developments.