Outcomes of FATF plenary

The latest FATF Plenary meeting took place from 14-17 June. At it, FATF

  • agreed to severely limit the role of Russia and its influence in FATF;
  • approved a report to help the real estate sector better detect and prevent money laundering;
  • finalised an update on FATF requirements on virtual assets and VASPs; and
  • approved a white paper on possible amendments to Recommendation 25 on transparency and beneficial ownership of legal arrangements.

It made no changes to the high risk jurisdictions lists, but added Gibraltar to jurisdictions under increased monitoring and removed Malta.

Emma Radmore