Published by CASSAGNE Consulting in LinkedIn.

? FATF Plenary - October 2024: Key Highlights ?

The latest plenary of the Financial Action Task Force (FATF), held in Paris from October 23 to 25 ??, brought together over 200 jurisdictions ? to address crucial issues in the fight against money laundering, terrorist financing, and the proliferation of weapons of mass destruction. Key points included ?:

- Completed Assessments: Joint assessments by FATF-GAFILAT for Argentina and FATF-MENAFATF for Oman were approved ?.

- Grey List: Algeria, Angola, Côte d'Ivoire, and Lebanon were added to this list, while Senegal was removed ?.

- Black List: No changes ?.

- Financial Inclusion and Risk-Based Approach: Revisions to the FATF standards were announced to foster financial inclusion ?.

- Inclusivity: For the first time, Senegal and the Cayman Islands participated as guests in the plenary and working groups ?.

- Strategic Initiatives: The National Risk Assessment guidance was updated, and progress was made on the review of standards for cross-border payments ?.

### ?? Argentina?s Assessment: Key Points and Areas for Improvement

The joint FATF and GAFILAT evaluation highlighted some strengths in Argentina?s AML/CFT/CPF system ??, particularly in cooperation and coordination among national agencies ?. However, critical areas were identified for improvement:

1. Targeted Financial Sanctions (Weapons Proliferation): Argentina must strengthen its sanctions framework to block resources that finance the proliferation of weapons of mass destruction ??.

2. Risk Understanding: A need was identified for a better understanding of the risks associated with corruption and informal financial services in the country ?.

3. Increased Prosecutions: It is crucial to increase investigations and convictions of money laundering and terrorist financing offenses ??, aligned with the country?s risk profile.

4. Supervision and Regulation: Enhanced regulation and supervision are needed in certain sectors for more effective risk management ?.

With these points in focus, Argentina has the opportunity to optimize its AML/CFT/CPF framework and advance in the implementation of FATF recommendations ?.

At CASSAGNE Consultores, we are here to support our clients every step of the way toward continuous compliance with anti-money laundering and counter-terrorism financing (AML/CFT) standards ?.

? For any inquiries or to schedule a meeting with our director, visit our online booking on our website at ? https://lnkd.in/dvikcFJX.