The FATF published their Annual Report 2021-2022 on 31st January. The report highlights the organisation’s achievements during the period, which included:
- A strengthened standard on Beneficial Ownership to prevent criminals from laundering dirty money through shell companies and other legal persons,
- Issuing reports on:
- Digital transformation: How technology can help detect suspicious activities, analyse financial intelligence, and develop understandings of ML/TF risks,
- Migrant smuggling: Setting out the most common methods used to transfer and launder the proceeds of migrant smuggling,
- The real estate sector: Helping professionals implement risk-based measures to prevent money laundering and terrorist financing,
- How FATF Recommendations apply to virtual assets and virtual asset service providers,
- Mutual evaluation and follow-up reports on New Zealand, China, Mexico, Sweden, Denmark and Iceland,
- Outlining the strategic priorities for The FATF.