UK takes over FATF presidency

The UK has taken over presidency of the Financial Action Task Force (FATF).

Giles Thomson – the new president, – succeeds Elisa de Anda Madrazo of Mexico. Thomson also serves as Director for Economic Crime and Sanctions in HM Treasury, and is responsible for the UK’s AML/CTF policy and the OFSI.

Thomson will prioritise:

• Delivering change to the FATF’s fraud response;
• Promoting effective implementation of the risk-based approach and risk-based supervision;
• Exploring developments in the generation and use of financial intelligence;
• Enhancing public-private cross-border and private-to-private information sharing; and
• Supporting effective implementation of recently revised FATF Standards.