The inaugural Financial Action Task Force, FATF, Plenary meeting under the UK Presidency of Giles Thomson has concluded in Paris, with member countries agreeing to step up global action against evolving financial crime threats, including the misuse of virtual assets, fraud and scam compounds.
According to the FATF statement of outcomes, the Plenary agreed to accelerate the effective implementation of FATF standards on virtual assets in jurisdictions with significant virtual asset activity.
The decision follows the FATF Ministerial Declaration of April 2026. The Plenary also stressed the urgent need to strengthen national safeguards against the misuse of virtual assets for money laundering, terrorist financing and proliferation financing.
In another significant decision, FATF agreed to remove Bulgaria, Côte d’Ivoire, the Democratic Republic of the Congo and Monaco from its list of jurisdictions under increased monitoring following successful on-site visits.
The FATF also updated its statements on jurisdictions under increased monitoring and those subject to a call for action.