A key role of the Financial Action Task Force (FATF) is to identify new and evolving risks to the financial system stemming from money laundering (ML), terrorist financing (FT) or the financing of proliferation. The FATF’s annual experts meetings provide an important opportunity for operational experts from FATF and FATF Style Regional Bodies (FSRBs) members, as well as other international bodies such as the International Monetary Fund, the United Nations and the World Bank to discuss current and emerging ML/FT risks.
This year, FATF and MONEYVAL jointly organised the Experts’ Meeting, which was hosted by the Israeli government in Tel Aviv from 25-26 March.
The 2019 joint Experts’ Meeting brought together over 300 delegates, representing 63 jurisdictions from across the FATF’s global network, and representatives of FSRBs and international organisations. During this three-day operational forum, participants discussed the preliminary findings of FATF’s ongoing work in identifying and understanding new risks to the financial system, including on improving countries’ assessment of the FT risks they face. Participants also discussed the detection, investigation and confiscation of virtual assets in criminal investigations, and challenges associated with asset recovery.
During her opening address the Minister of Justice of Israel, Ayelet Shaked, welcomed the opportunity for Israel to host this particular Joint Experts Meeting, which focused on extremely contemporary and relevant global challenges: Terror financing, Virtual Assets, and Cross Border Conviction-Based Asset Recovery, which are all of major international importance.
The discussions provided valuable input into FATF’s ongoing work, which will be discussed further at the upcoming June Plenary in Orlando (USA).