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FATF publishes outcomes of October 2022 Plenary

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Published on: 24 October 2022

Published by LNB News

LNB News 24/10/2022

Document Information

Issue Date: 24 October 2022

Published Date: 24 October 2022

Jurisdiction(s): England, Northern Ireland, Scotland, Wales and USA

Article summary

The Financial Action Task Force (FATF) has published the outcomes of the Plenary which took place on 20—21 October 2022. At this Plenary, the FATF made several advances such as agreeing to seek public input on draft guidance for implementing the FATF standard on beneficial ownership transparency for legal persons, adopting a US-led report on money laundering related to the illicit trafficking of synthetic opioids, including fentanyl and commenced work on several projects designed to strengthen global efforts to combat corruption. The FATF also agreed to additional restrictions on the membership rights of the Russian Federation due to the conflict in Ukraine.

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