FATF Recognizes Effectiveness of U.S. AML/CFT System, Advances Key Illicit Finance Initiatives

PARIS—Last week, senior Treasury officials led a U.S. government delegation to the Financial Action Task Force’s(FATF) plenary meetings. The FATF, the global standard-setting body for countering money laundering, terror financing, and proliferation financing, concluded its first Plenary under the United Kingdom presidency. The FATF adopted the Mutual Evaluation Reports of the United States and Mexico, reiterated the call to impose countermeasures on Iran, agreed to publish a new report on scam centers, and agreed to accelerate global implementation of digital asset-related standards. STOPPING IRANIAN ILLICIT FINANCEIran remains on the FATF’s blacklist, and the FATF called upon all nations to implement reimposed United Nations Security Council Resolutions related to Iran’s ongoing lack of compliance with its nuclear agreements.