FATF and MONEYVAL conclude joint Plenary – 12-13 June 2025

A joint Plenary meeting of the Financial Action Task Force (FATF) and MONEYVAL concluded on Friday after two days of high-level discussions at the Council of Europe headquarters. The session, co-chaired by Elisa de Anda Madrazo (FATF President) and Nicola Muccioli (Chair of MONEYVAL), marked a significant moment in international efforts to combat money laundering, terrorist financing, and the financing of weapons proliferation.

The meeting brought together representatives from over 200 jurisdictions and observer organisations that comprise the FATF Global Network, reaffirming a shared commitment to strengthening global financial integrity and security.

Key outcomes

Enhancing cross-border payments
One of the headline decisions was the approval of revised FATF Standards aimed at improving the safety and efficiency of cross-border payments. These updates align with the G20’s priority of making international transactions faster, more affordable, and more transparent—crucial steps toward enhancing the global financial system’s resilience.

Latvia’s evaluation signals new round of assessments
Delegates approved the mutual evaluation report for Latvia—the first assessment to be completed under the new round of FATF evaluations. The review focused on how well Latvia’s measures address financial crime in proportion to the risks the country faces, setting a precedent for future assessments.

MONEYVAL’s progress and accountability
Three member states underwent review under MONEYVAL’s Compliance Enhancing Procedures, a mechanism for addressing strategic deficiencies in anti-money laundering and counter-terrorist financing frameworks. These members are expected to present follow-up progress by December 2025.

New guidance and tools released
The Plenary adopted several new reports and guidance materials intended to help jurisdictions assess and mitigate illicit finance risks. Among the aims is the advancement of financial inclusion without compromising security and compliance, particularly in lower-capacity or emerging financial systems.

Safeguarding non-profit organisations
New procedures were agreed upon to ensure that regulations designed to prevent terrorist financing are not misapplied in ways that hinder the legitimate activities of non-profit organisations (NPOs). The updated approach is intended to strike a balance between security and the protection of civic space.

The FATF updated its list of jurisdictions under increased monitoring, commonly referred to as the ‘grey list’:

• Removed: Croatia, Mali, and Tanzania were acknowledged for significant progress and have been taken off the list.
• Added: Bolivia and the British Virgin Islands have been placed under increased monitoring due to identified strategic deficiencies.
• Russia: The suspension of the Russian Federation from the FATF remains in force, with no change to its current status.

The joint Plenary underscored the growing necessity for coordinated international action against evolving financial threats. As illicit finance continues to exploit technological and jurisdictional gaps, forums such as this remain critical in maintaining a united and effective global response.

The outcomes of this meeting will shape international regulatory practices and capacity-building initiatives in the months ahead, reinforcing the FATF and MONEYVAL’s role as central pillars in the fight against financial crime.