The Financial Action Task Force last week announced the agenda for its next plenary meeting, due to take place between January 30th and February 1st in Hong Kong.
Following the September 11th terrorist attacks, the 29 members of the anti-money laundering organisation held an emergency meeting and adopted eight recommendations designed to break up terrorist funding networks. These included: criminalizing the financing of terrorist organisations, freezing and confiscating terrorist assets, monitoring and reporting suspicious transactions, and strengthening customer identification procedures for financial service providers.
At the forthcoming meeting, the multilateral organisation will assess the measures put in place by each of its member countries towards fulfilling the eight recommendations, and will discuss and update the list of countries considered uncooperative in the fight against money laundering.
According to FATF sources, a typologies report detailing money laundering trends and techniques will also be available at the end of the meeting. The FATF President, Clarie Lo, and the Chief Secretary for Administration, Donald Tsang, are scheduled to give an opening address on Wednesday morning.
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