FATF: Plenary

FATF has published a note following its plenary held on 26-28 June 2024.  Matters under discussion include: forthcoming reviews (to be published in July 2024) with regard to progress by jurisdictions on implementing the FATF Standards on virtual assets and virtual asset service providers and measures to prevent gatekeepers from being used to facilitate money laundering and terrorist financing.  It is also noted that FATF is in the process of revising the standards to reflect the evolution of cross-border payment systems. The Plenary agreed that, given the complexity of the requirements and the potential impact on payment systems, further dialogue with relevant stakeholders should take place before finalising the amendments.