The Financial Action Task Force concluded its first plenary under the United Kingdom presidency last week, adopting the mutual evaluation reports of the United States and Mexico, the US Treasury said in a release on Friday. Senior Treasury officials led the US government delegation to the meetings in Paris. The FATF is the global standard setting body for countering money laundering, terrorist financing and proliferation financing.
Iran remains on the FATF blacklist, and the body called on all nations to implement the reimposed United Nations Security Council resolutions tied to Iran’s lack of compliance with its nuclear agreements, and reminded jurisdictions to impose countermeasures on Iran restricting correspondent banking, digital asset transactions and business relationships. The plenary also adopted a report examining the financial flows fuelling scam compounds in Southeast Asia, and agreed to launch a targeted review of jurisdictions with longstanding deficiencies in the virtual assets sector ahead of decision points at the next plenary.