Outcomes of the second FATF Plenary | Weekly Words of Wisdom
The second FATF Plenary under Elisa de Anda Madrazo’s presidency has concluded after three days of discussions on tackling money laundering, terrorism financing and proliferation financing.
Key outcomes include updates to the FATF Standards to support a risk-based approach, financial inclusion and the agreed publication of a report on combating online child sexual exploitation. The Plenary also welcomed Kenya into its guest initiative, joining the Cayman Islands and Senegal, to enhance regional inclusivity in discussions.
The FATF Plenary removed the Philippines and added Lao People’s Democratic Republic and Nepal to the list of jurisdictions under increased monitoring, or the ‘grey list’.
Finally, The Plenary selected Giles Thomson from the UK as the next vice president. He will assume the role on 1 July 2025 for a two-year term. He is currently director of the Office for Financial Sanctions Implementation and Economic Crime at HM Treasury and leads the UK delegation to FATF.