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2nd Plenary of the 25th Session of the Financial Action Task Force (FATF) 16/Feb/2014

2nd Plenary of the 25th Session of the Financial Action Task Force (FATF)

Qatar Financial Information Unit participated as part of the National AML/CFT Committee’s delegation in the Second Plenary meeting of FATF-XXV held under the Russian Presidency in Paris – France on 12-14 February 2014.

The main issues dealt with by this Plenary were:

  • Producing two public documents as part of its ongoing work to identify jurisdictions that may pose a risk to the international financial system.
    • FATF Public Statement on jurisdictions with strategic anti-money laundering and combating the financing of terrorism (AML/CFT) deficiencies.
    • Improving Global AML/CFT Compliance: on-going process - Jurisdictions with strategic AML/CFT deficiencies for which they have developed an action plan with the FATF.
  • Approving and publishing follow-up reports to the mutual evaluations of Aruba (Kingdom of the Netherlands), Austria, Canada, Luxembourg, Mexico and the Netherlands.
  • Receiving an update on AML/CFT improvements in Antigua and Barbuda, Bangladesh and Vietnam.
  • Reviewing the voluntary tax compliance programs in several jurisdictions.
  • Adopting and publishing universal procedures for assessments conducted by assessment bodies.
  • Continuing to develop guidance on effective implementation of beneficial ownership requirements.
  • Exploring common issues between AML/CFT and data protection experts.
  • Conducting further research on the AML/CFT implications of virtual currency.

The Qatari delegation also participated on the margins of the Plenary in the meetings of the Evaluations and Compliance Group(ECG) and the International Cooperation Review Group (ICRG), where the latest regional issues and the general procedures of the evaluation process were tackled.

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AML Laws

Law No.(4) of 2010, Combating Money Laundering and Terrorism Financing.
Law No.(3) of 2004, Combatting Terrorism.
Law No.(11) of 2004, Penal Code Of Qatar.
Law No.(23) of 2004, Code Of Criminal Procedures.

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