Title: New Belgian Delegate Takes Charge at FATF: Bolstering Fight Against Money Laundering and Terrorist Financing

Brussels, [Date]

The Financial Action Task Force (FATF), an international organization established in 1989, is dedicated to setting global standards for combating money laundering, terrorist financing, and other financial crimes. With over 30 years of experience, the FATF’s objectives are essential in safeguarding the international financial system from illicit activities.

Role and Responsibilities

The FATF’s core functions include:

• Formulation and updating of the 40 Recommendations (PDF, 1.13 MB): The internationally recognized standard against money laundering and terrorist financing.
• Monitoring Member States’ compliance: Ensuring adherence to the Recommendations.
• Mutual assessments: Evaluating the efficiency of counter-measures against various money laundering and terrorist financing techniques.

The Importance of FATF’s Mandate

The FATF’s role is crucial as financial crimes continue to evolve. The Recommendations are consistently reviewed and adjusted to address these new challenges. By maintaining global standards, theFATF strengthens the international community’s capacity to prevent financial crimes and protect the integrity of financial systems.

Belgian Delegation Takes Leadership Role

In 2016, the General Administration of Treasury, represented by Virginia Di Marcoberardino, assumed leadership of the Belgian delegation to the FATF. The appointment underlines Belgium’s continued commitment to collaborating with the international community in the fight against financial crimes.

For queries or comments regarding the FATF, please contact Treasury.fatf@minfin.fed.be.

Belgium’s Role in FATF

Stay tuned for updates on Belgium’s role within the FATF as it works to strengthen global efforts against money laundering and terrorist financing.