FATF Ministers give FATF an open-ended Mandate

Washington, D.C., 12 April 2019 - Today, Ministers agreed an open-ended Mandate for the FATF and its role leading global action to counter money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction.

The adoption of an open-ended mandate, on the 30th anniversary of the FATF, reflects the fact that these threats are enduring concerns for the integrity of the financial system, and that a sustained political commitment to fight money laundering, terrorist financing, and proliferation financing is required.

FATF members also agreed to greater ministerial engagement and support for FATF through regular and more frequent ministerial-level meetings, and by extending the term of the FATF Presidency, and by agreeing to a new funding model for the organization.

FATF’s new mandate recognises the need for FATF to continue to lead decisive, co-ordinated and effective global action to counter the threats of the abuse of the financial system by criminals and terrorists, and strengthens its capacity to respond to these threats that all countries face.     

Remarks by FATF President Marshall Billingslea

US Department of the Treasury Press Release: Financial Action Task Force (FATF) Ministers Take Steps to Protect the Global Financial System, 12 April 2019