FATF Holds Plenary in Singapore, Advances Key Illicit Finance Initiatives

SINGAPORE — Today, the Financial Action Task Force (FATF), the global standard-setting body for anti-money laundering and countering the financing of terrorism and proliferation (AML/CFT/CPF), concluded its sixth and final Plenary under the Singaporean Presidency. During the Plenary, the FATF took several key actions, including adopting the Mutual Evaluation Reports (MERs) for India and Kuwait, agreeing to publish a report on non-financial gatekeeper facilitation of corruption, and discussing the priorities of the incoming Mexican FATF Presidency.The FATF also adopted a statement warning all countries of the Democratic People’s Republic of Korea (DPRK)’s increasing financial connectivity with the international financial system, and reiterating the dangers that this poses for the financing of proliferation of weapons of mass destruction.