FATF hosted Plenary between 23-25 October

The Financial Action Task Force (FATF) hosted its Plenary between 23-25 October.

Key outcomes include:

• The continued suspension of the Russian Federation’s membership;
• The addition of Algeria, Angola, Côte d’Ivoire, and Lebanon to the list of jurisdictions subject to increased monitoring;
• The removal of Senegal from the list of jurisdictions subject to increased monitoring;
• The addition of Senegal and the Cayman Islands as guest jurisdictions;
• The adoption of Mutual Evaluation reports for Argentina and Oman;
• The agreement to release for public consultation proposed changes to the standards on financial inclusion;
• The revision of the national money laundering risk assessment guidance; and
• The commencement of a review to ensure countries do not misuse FATF standards to restrict the activities of nonprofit organisations.

✅ Firms should review the latest plenary updates and note any control reviews required following changes to the lists of high-risk jurisdictions subject to a call for action and the jurisdictions under increased monitoring.

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