International CFT Commitments Advance as Congress Continues AML Debate
In this report, we assess today’s final statement on counter terrorism financing agreed to by over seventy countries and a House FinServ Financial institution and Consumer Credit Subcommittee hearing on FinCEN’s Customer Due Diligence (CDD) rule (see FSM Report LAUNDER121). The final statement expresses signatory commitment to implement FATF AML/CFT standards, increase information sharing amongst government agencies, fight anonymous financial transactions, partner with the technology industry, and improve the traceability of non-profit funds. The statement also commits to implementing FATF cryptocurrency standards and welcomes review of additional action.