The meeting was opened by Mr. Michel Sapin, French Minister of Finance and Public Accounts who stressed the importance of a united global front in the fight against terrorism, and urged the FATF Global Network to continue its important work (Speech by Mr. Sapin available in french only).
The main issues dealt with by this Plenary were:
- Issuing a statement on FATF action on terrorist finance.
- Adopting and publishing a report on the financing of the terrorist organisation Islamic State in Iraq and the Levant (ISIL)
- Producing two public documents identifying jurisdictions that may pose a risk to the international financial system:
- Receiving an update on AML/CFT improvements in Albania, Cambodia, Kuwait, Namibia, Nicaragua, Pakistan and Zimbabwe.
- Discussing the fourth round mutual evaluation reports on compliance with the FATF Recommendations of Australia and Belgium.
- Increasing collaboration between FATF and the Egmont Group of Financial Intelligence Units, including a briefing by the Chair of the Egmont Group on recent developments in financial intelligence units.
- Reviewing the voluntary tax compliance programmes in several jurisdictions.
- Continuing its work on the issue of ‘de-risking’, in line with the effective implementation of a risk-based approach.
- Building on the 2014 report on virtual currencies, the FATF wants to progress this issue for a decision at the June 2015 Plenary.