Some time ago (2009 to be more precise), we at John Howell & Co Ltd set up a website called FATF Watch. We offered news and analysis of AML/CFT matters around the world, focusing on developments and implementation of the international standards set by the FATF (Financial Action Task Force). At the time, it was difficult to find such information on official websites – our country pages offered valuable resources for those having to consider country risk and we highlighted the useful information hidden on FATF and FSRB (FATF Style Regional Bodies) websites and deep in long and often impenetrable Mutual Evaluation Reports.
We provided this service alongside our consultancy business. Having been trailblazers, we found that not only did the ‘official’ side smarten up their act to provide much better information, but also that specialist publishers began to offer similar news services. We took the decision to focus on our core business.
We have now decided to launch this blog. These are interesting times for the AML/CFT community. The revision of the FATF Recommendations, the increasing focus on effectiveness in implementation and the introduction of the risk based approach bring new challenges, which deserve and need debate. This blog will be our voice in that debate, as FATF watchers for many years, with frequently strongly held opinions and (hopefully) interesting and useful perspectives.
We hope to relaunch FATF Watch itself in the near future, to provide a platform for useful information, white papers and more. Watch this space!