Treasury Endorses New International Payments Standards, Supports FATF Reports on Countering Illicit Finance

WASHINGTON — On June 13, the Financial Action Task Force (FATF) concluded its joint plenary with the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL), the FATF-style regional body for Europe, in Strasbourg, France. The plenary agreed to release reports on proliferation financing sanctions evasion typologies and how terrorist groups like Hamas, Hizballah, and the Houthis raise and move funds. The body also found consensus on a revised payments standard, new publications on how countries around the world are regulating virtual assets to combat illicit finance, and a new mechanism to prevent the FATF standards from being misused to pressure civil society groups.“The FATF plays an important role in the global fight to counter terrorism and proliferation financing,” said Secretary of the Treasury Scott Bessent.