LNB News 03/02/2025
Document Information
Issue Date: 03 February 2025
Published Date: 03 February 2025
Jurisdiction(s): World
The Financial Action Task Force (FATF) has released its 2023-2024 annual report, highlighting significant progress in combating financial crime. Key developments include strengthening global compliance with FATF standards, improving transparency and beneficial ownership requirements, amending standards for non-profit organisations and enhancing asset recovery measures. The FATF also focused on emerging risks, publishing reports on cyber-enabled fraud, terrorism financing through crowdfunding and virtual asset service providers. Additionally, the organisation prioritised deepening relationships with regional bodies and launched an initiative to promote gender inclusivity within the FATF and its global network.
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