FATF Plenary Adopts New Methodology For Assessing Complaince and Issues Documents on Its Work to Identify Problematic AML/CFT Jurisdictions

     On February 22, 2013, under the Norwegian Presidency, the Financial Action Task Force held a plenary meeting.   FATF took a number of decisions; it produced two documents as part of its ongoing work to identify jurisdictions that may pose a risk to the international financial system, it adopted new methodology for assessing technical compliance with the FATF Recommendations and the effectiveness of AML/CFT, it updated guidance on AML and CTF measures and financial inclusion, it approved and published guidance on conducting national risk assessment; it decided on the process of whether to undertake a limited expansion of FATF membership, and it discussed the global challenges in supervision and enforcement.[1]