AML/CTF/CPF
Industry News
Key outcomes include:
➡️ “Grey List” Changes: Burkina Faso, Mozambique, Nigeria, and South Africa were removed from the list of jurisdictions under increased monitoring after completing their Action Plans and demonstrating improved AML/CFT frameworks;
➡️ Asset Recovery Guidance: FATF approved comprehensive guidance to enhance countries’ ability to trace, freeze, and confiscate criminal proceeds;
➡️ AI and Emerging Risks: A new Horizon Scan warned of financial crime threats linked to AI and deepfakes, highlighting their use in fraud and identity manipulation; and
➡️ Mutual Evaluations: The new risk-based, time-bound assessments for Belgium and Malaysia set key actions to enhance AML/CFT effectiveness within three years.
✅ Firms should reflect country risk rating changes in processes, align compliance frameworks with evolving FATF standards on asset recovery and cross-border supervision, strengthen controls to manage AI-related risks, and continue to monitor forthcoming FATF developments.
💡Plenitude’s Compass delivers transparent, data-driven country risk assessments, helping firm's strengthen financial crime compliance through dynamic, regularly updated insights. Visit our website for more information: https://www.plenitudeconsulting.com/services/regtech-products/compass
