Large economies were spared by the Financial Action Task Force from pressure over AML gaps


A proposal to decrease the threshold at which countries are subject to increased global scrutiny for failing to combat illicit funding was rejected by an international body, potentially saving big economies from being included to a “gray list” of countries with weak financial crime defenses.

The Financial Action Task Force (FATF) launched a strategic review in 2019 to evaluate and update its procedures for carrying out mutual evaluations and follow-up reviews of national AML frameworks, including those governing the International Co-operation Review Group, a board that oversees the use of FATF’s most potent tool: the naming and shaming of nations with systemic gaps in their Anti-Money Laundering regimes.


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