Outcomes of Joint FATF-MONEYVAL Plenary of June 2025
A joint FATF-MONEYVAL Plenary meeting hosted at the Council of Europe and chaired by FATF President and MONEYVAL Chair ended on 13 June 2025. One of the objectives was to strengthen global efforts to disrupt criminal activity while improving the safety and security of cross-border payments, in line with the G20 initiative to make payments faster, cheaper, more transparent and accessible.
The June 2025 FATF-MONEYVAL Plenary Key Takeaways
1. Jurisdictions under increased monitoring (“Grey list”) changes
- Added to the Grey List: Bolivia and the British Virgin Islands (BVI)will be under increased FATF monitoring, meaning elevated AML/CFT risks when dealing with these countries.
- Removed from the “Grey List”: Croatia, Mali and the Republic of Tanzania
2. Jurisdictions subject to a Call for Action (“Black List”): No changes
3. FATF Membership: Suspension of the membership of Russia continues to stand, meaning organisations should conduct adapted due diligence to manage sanctions evasion risks
4. Strategic initiatives
- Strengthening payment transparency
- Changes to Recommendation 16 of the FATF Standards aiming to improve detection of crimes and implementation of sanctions by increasing clarity on remitter and beneficiary in cross-border payments over 1000 USD/EUR
- Financial Inclusion and the Risk-based Approach
- Updated guidance that will empower financial institutions and other providers to boost financial inclusion
- New guidance on application of simplified measures where risks are assessed to be lower, namely, to address de risking by financial institutions
- Adoption of a new national risk assessment toolkit to help guide countries in implementing the risk-based approach.
- Mitigating Unintended Consequences of Misapplication of the FATF Standards
- New procedures to ensure that the FATF can manage NPO-related unintended consequences of misapplication of FATF Standards wherever they occur in assessment processes, including mutual evaluations and the different follow-up processes
- Responding to illicit finance risks
- Publication of a report examining complex proliferation financing and sanctions evasions schemes
- Publication of the most extensive global assessment of terrorist financing risks, providing a detailed overview of how terrorist organisations and individuals around the world raise, move, store, and spend funds as of 2025, as well as anticipated trends over the next three to five years
- Publication of FATF’s 6th Targeted Update Report that will assess jurisdictions’ implementation of the FATF’s Standards in relation to Virtual Assets and Virtual Asset Service Providers
How do the above-mentioned changes affect your compliance? Contact us to know how we can assist.
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