The recent Financial Action Task Force (FATF) Plenary, held under the Mexican Presidency of Elisa de Anda Madrazo and concluded on 24 October 2025, addressed major developments in the global fight against illicit finance.

Here are the key highlights:

1️⃣ Renewed Global Commitment
FATF reaffirmed its determination to combat money laundering, terrorist financing, and proliferation financing — underscoring the importance of cross-border cooperation.

2️⃣ First Mutual Evaluations under the New Process
Belgium and Malaysia became the first jurisdictions assessed under the revised, risk-based FATF evaluation methodology. Final reports are expected in December 2025.

3️⃣ Four Countries Exit the Grey List
Burkina Faso, Mozambique, Nigeria, and South Africa have successfully completed their action plans and are no longer under increased monitoring — a major step forward for these jurisdictions.

4️⃣ New Guidance on Asset Recovery
FATF adopted enhanced guidance to help countries strengthen their asset recovery frameworks, especially for cross-border criminal assets — a key tool in disrupting financial crime.

5️⃣ Emerging Risks: AI and Deepfakes
A new Horizon Scan highlights how artificial intelligence and deepfakes are increasingly exploited for illicit purposes. FATF will continue developing guidance to mitigate these risks.

6️⃣ Expanding the Global Network
Jamaica and Nigeria participated in the Plenary for the first time, reflecting stronger regional engagement and collaboration.

7️⃣ Membership Update
The suspension of Russia’s membership remains in effect, as reaffirmed from February 2024.

The FATF continues to play a pivotal role in shaping global standards, ensuring that jurisdictions worldwide strengthen their frameworks to safeguard the integrity of the international financial system.

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