FATF Recognizes Effectiveness of U.S. AML/CFT System, Advances Key Illicit Finance Initiatives

PARIS—Last week, senior Treasury officials led a U.S. government delegation to the Financial Action Task Force’s(FATF) plenary meetings.  The FATF, the global standard-setting body for countering money laundering, terror financing, and proliferation financing, concluded its first Plenary under the United Kingdom presidency.  The FATF adopted the Mutual Evaluation Reports of the United States and Mexico, reiterated the call to impose countermeasures on Iran, agreed to publish a new report on scam centers, and agreed to accelerate global implementation of digital asset-related standards. 

STOPPING IRANIAN ILLICIT FINANCE

Iran remains on the FATF’s blacklist, and the FATF called upon all nations to implement reimposed United Nations Security Council Resolutions related to Iran’s ongoing lack of compliance with its nuclear agreements. The FATF also reminded all jurisdictions to impose countermeasures on Iran to restrict correspondent banking, digital asset transactions, and business relationships with Iran.

DISMANTLING SOUTHEAST ASIAN SCAM COMPOUNDS

The FATF also adopted a landmark report examining the financial flows fueling scam compounds, laying the groundwork for a stronger, more coordinated global response to fraud.  Building on these findings, the FATF will advance concrete measures to use its full range of tools to drive more decisive action to disrupt these criminal networks, hold jurisdictions accountable for failing to address these risks, and protect victims and the global financial system.  Scams orchestrated at these compounds often target older and vulnerable Americans, and the Trump Administration has taken numerous sanctions actions to stop the fraud.

ADVANCING THE DIGITAL ASSETS SECTOR

The FATF also agreed to launch a targeted review of certain jurisdictions with longstanding deficiencies related to the virtual assets sector that heighten illicit finance risks.  This review will outline decision points for the next FATF plenary on what the FATF can do to ensure accountability for jurisdictions with systemic weaknesses that enable fraudsters, drug traffickers, and proliferators to launder funds through exchanges.

Click here to read the Outcomes of the FATF Plenary, 6 November 2026.

###

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.