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FATF - October session at the OECD in Paris

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Attendance of Mr. Michel HUNAULT, Director of the Financial Circuits Information and Control Unit - SICCFIN

The autumn session of the Financial Action Task Force (FATF), an intergovernmental organisation for the fight against money laundering and terrorist financing composed of 36 countries and regional authorities including the European Commission, was held at the OECD headquarters in Paris.

Mr. Michel HUNAULT was invited to attend to represent the Financial Intelligence Unit (FIUs) of Monaco.

This was an opportunity for the Financial Intelligence Units of the EGMONT Group to exchange views on the main trends in financial crime, but also, as a priority, against the financing of terrorism and the fight against the proliferation of weapons of mass destruction, in a context of war within Europe.

The session focused on the preparation and objectives of the 5th Mutual Evaluation Round; the use of cryptoassets and the financing of terrorism were particularly mentioned, in the light of the AML/CFT.

The assessments have consequences even for the largest countries under the "enhanced monitoring" procedure, which requires the implementation of the most demanding compliance plans.

Discussions focused on the priority actions that need to be implemented by the assessed countries in order to strengthen their AML/CFT prevention, national and international cooperation.


Photo: Mr. Michel HUNAULT in discussion with Igor NEBYVAEV of the MONEYVAL Committee.

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