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FATF's June Plenary and Its Key Outcomes

Written by Insight & Partnership Team | Jun 28, 2024 8:29:00 AM

FATF's Plenary produced the following key outcomes:

  • Approval of the revised criteria for prioritising countries for ICRG review process
  • The addition of Monaco and Venezuela to the list of jurisdictions subject to increased monitoring;
  • The removal of Jamaica and Türkiye from the list of jurisdictions subject to increased monitoring;
  • The adoption of Mutual Evaluation Reports for India and Kuwait;
  • The completed horizonal review of DNFBP Technical Compliance related to corruption, the findings of which are scheduled to be published in July;
  • An agreement to publish fifth annual update on progress by jurisdictions on implementing the FATF Standards on virtual assets and virtual asset service providers (VA/VASPs) in July; and
  • The continued revision of FATF Standards to reflect the evolution of cross-border payment systems, and changes to industry standards.