Outcomes Joint FATF/GAFILAT Plenary, 1-3 November 2017

FATF President Mr. Santiago Otamendi and GAFILAT President Mr. Eugenio Curia, both from Argentina, chaired the first Plenary meeting of FATF-XXIX in Buenos Aires. This was a joint Plenary with GAFILAT, therefore all members of both organisations were able to participate in the meeting.

Mr. Mauricio Macri, President of the Republic of Argentina, opened the meeting and during his remarks emphasised the importance of a complete commitment to the fight against terrorism.

Mr. Germán Garavano, Minister of Justice and Human Rights of Argentina addressed the Plenary on the second day of its meeting and highlighted the challenges in detecting and stopping illicit financial flows.

The main issues dealt with by this Plenary were:

  • Combatting terrorist financing, including the adoption of a report on the financing of recruitment for terrorist purposes
  • Information sharing, including the adoption of revisions to Recommendations 18 and 21 on information sharing, and the adoption of guidance on private sector information sharing
  • Adoption of a supplement to the 2013 FATF Guidance on AML/CFT Measures and Financial Inclusion
  • The mutual evaluation reports of Mexico and Portugal
  • The follow-up report for the mutual evaluation of Austria
  • Brazil’s progress in addressing the deficiencies identified in its mutual evaluation reports, since the FATF statement of June 2017
  • Two public documents identifying jurisdictions that may pose a risk to the international financial system
  • Jurisdictions with strategic anti-money laundering and countering the financing of terrorism (AML/CFT) deficiencies for which a call for action applies, including an update on Iran’s engagement with FATF
  • Jurisdictions with strategic AML/CFT deficiencies for which they have developed an action plan with the FATF, including an update on AML/CFT improvements in Uganda.
  • Approval of a statement about the proliferation financing risk emanating from the Democratic People’s Republic of Korea, stressing global obligations and the importance of robust implementation of the FATF standards and relevant UN Security Council Resolutions.
  • AML/CFT improvements in Uganda.
  • Revisions to the Methodology
  • Strengthening FATF’s institutional basis, governance and capacity
  • Outcomes of the meeting of the Forum of FATF Heads of Financial Intelligence Units (FIUs), which was held in the margins of the Plenary
  • Publication of a statement expressing FATF’s strong support for responsible financial innovation in line with the FATF Standards, and exploration of opportunities that new financial and regulatory technologies present for improving the effective implementation of AML/CFT measures.
  • FATF/GAFILAT Outreach to Prosecutorial Services and Criminal Justice Systems
  • GAFILAT Private Sector engagement
  • Activities of the FATF Training and Research Institute in Busan, Korea

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