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FATF updates on global AML/CTF compliance

16 June 2020

The Financial Action Task Force (FATF), the global watchdog that sets international anti-money laundering and counter-terrorism financing (AML/CTF) standards, has published two recent updates on international AML/CTF compliance.

The reports provide an update on jurisdictions which may pose a risk to the international financial system:

As part of your AML/CTF program and reporting obligations, reporting entities should be aware of countries that pose a higher risk of money laundering or terrorism financing.

FATF statements should be used by reporting entities to help guide your AML/CTF risk assessment and compliance program, and decisions about submitting suspicious matter reports to AUSTRAC.

For further information, see AUSTRAC’s guidance on high-risk countries, regions and groups.