FATF Revised Mandate 2008-2012

FATF MINISTERIAL MEETING

12 April 2008

The UK Chancellor of the Exchequer chaired a meeting of FATF Ministers in Washington DC today. The Ministers discussed the work of the FATF in the international fight against money laundering and terrorist financing. They also endorsed a revised mandate for the FATF, which determines its direction and priorities between 2008 and 2012. The new mandate:

• Deepens global surveillance of evolving criminal and terrorist threats identified by the FATF;
• Responds to new threats which affect the integrity of the financial system such as proliferation finance;
• Builds a stronger, practical and ongoing partnership with the private sector which is at the frontline of the global fight against money launderers and terrorist financiers; and
• Supports global efforts to raise standards, especially in low capacity countries.