On October 27, 2023, the FATF’s fourth Plenary, concluded in Paris. Delegates from the FATF’s Global Network and international organizations discussed key issues related to money laundering, terrorism financing, and proliferation financing. The Plenary addressed the Middle East situation, agreed to publish a report on Crowdfunding for Terrorism Financing, and made revisions to Recommendation 8. The FATF emphasized the importance of global implementation of its standards, including sharing financial intelligence and using tools to combat terrorist financing. Delegates approved amendments to the FATF Recommendations to enhance measures against criminal proceeds and released a report on strengthening asset recovery networks for transnational money laundering cases. The FATF also adopted reports on cyber-enabled fraud and the misuse of citizenship and residency programs. Read more here.
Source: FATF