FATF publishes their Annual Report for 21/22

Joint consultation on the digital pound
FinCEN alert on Russian Oligarchs

The FATF published their Annual Report 2021-2022 on 31st January. The report highlights the organisation’s achievements during the period, which included:

  • A strengthened standard on Beneficial Ownership to prevent criminals from laundering dirty money through shell companies and other legal persons,
  • Issuing reports on:
    • Digital transformation: How technology can help detect suspicious activities, analyse financial intelligence, and develop understandings of ML/TF risks,
    • Migrant smuggling: Setting out the most common methods used to transfer and launder the proceeds of migrant smuggling,
    • The real estate sector: Helping professionals implement risk-based measures to prevent money laundering and terrorist financing,
    • How FATF Recommendations apply to virtual assets and virtual asset service providers,
    • Mutual evaluation and follow-up reports on New Zealand, China, Mexico, Sweden, Denmark and Iceland,
  • Outlining the strategic priorities for The FATF.

Firms should read the report to further understand the range of FATF operations and objectives for the years ahead.

https://www.fatf-gafi.org/en/publications/Fatfgeneral/Annual-Report-2021-2022.html

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