On 2/21/25, the US Department of Treasury reported that the Financial Action Task Force (FATF) concluded a plenary in Paris, where Treasury representatives participated in discussions on proliferation and terrorist financing risks, financial inclusion, and payment standards, leading to draft updates for public consultation. The Treasury also reported that FATF launched a public consultation on sanctions evasion schemes and endorsed changes to its recommendations to reinforce a risk-based approach to combating illicit finance, including ensuring preventive or mitigation measures are commensurate with the risks identified. Additionally, the Treasury reported that FATF finalized a report analyzing financial typologies linked to online child exploitation. Treasury Secretary Scott Bessent welcomed the FATF’s reaffirmation of countermeasures against Iran and its continued efforts to strengthen the global financial system.

The Treasury release can be found here.

Adam Witmer

Adam Witmer is a speaker, author, and founder of the Compliance Cohort. Adam has taught hundreds of seminars and training sessions to thousands of bankers throughout the United States and teaches on all areas of regulatory compliance. Adam has written five e-books that he never published, hit a grizzly bear while driving in a National Park, and is an award winning photographer and musician (though he no longer takes photos nor plays any instruments). In his spare time, Adam can be found kayaking on the lake, doing taekwondo with his kids, working on his (project) house, or spending time with his family.

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