The Financial Action Task Force (FATF) is the global money laundering and terrorist financing watchdog which sets international standards that aims to prevent these illegal activities and the harm they cause to society.
The FATF conducts peer reviews of each member on an ongoing basis to assess levels of implementation of the FATF Recommendations, providing an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system.
Both Japan and India have been removed from the FATF Mutual Evaluation regular follow-up process in 2008 and 2013 respectively, based on their implementation of FATF recommendations. The FATF has adopted a more complementary approach in February 2013 for assessing technical compliance with the FATF Recommendations, and for assessing whether and how the AML/CFT system is effective. Japan underwent a review in 2019 and India is expected to have a review by the end of 2022. There are several countries in Asia and other parts of the world which are still not fully compliant and some even on the “grey” list of countries under increased monitoring for money laundering and terrorism financing risks.
Join us to hear from Mr Hiroshi Ozaki of the Financial Services Agency, Japan on their experience and perspective on the FATF Mutual Evaluation Review
1 ACAMS credit available for active ACAMS members in India, subject to webinar completion.