The SIC, Lebanon's Financial Intelligence Unit (FIU), receives, analyzes, investigates suspicious transaction reports (STRs) and ensures compliance of banks, financial institutions and other reporting entities with the AML/CFT regulations.
Paris, 21 October 2016 – Under the
Spanish Presidency of Mr. Juan Manuel Vega-Serrano, the first Plenary meeting
of Plenary year FATF-XXVIII was held.
The main issues dealt with by this
Plenary meeting were:
on terrorist financing, which remains the top priority for the FATF, including:
of a joint FATF-GABAC-GIABA report on Terrorist Financing in West and Central
information on, and understanding of, ISIL funding
of the interpretive note to Recommendation 5 on criminalising terrorist
financing to ensure oil and other key sources of funds are included.
of the Guidance on criminalising terrorist financing
to the Methodology for assessing compliance with Recommendation 8 which is
focused on protecting non-profit organisations from terrorist financing abuse
to the Methodology for assessing how effectively countries are implementing
measures to protect non-profit organisations from terrorist financing abuse
(Immediate Outcome 10).
work to improve transparency and access to beneficial ownership information.
of correspondent banking relationships.
of Guidance on correspondent banking services, to help deal with the decline of
correspondent banking relationships.
to the FinTech / RegTech communities.
of the Heads of FATF Financial Intelligence Units to discuss operational issues
including responses to the Panama papers, enhanced information sharing,
beneficial ownership and maximising information sources to detect terrorist
of the mutual evaluation reports of Switzerland and the United States.
public documents identifying jurisdictions that may pose a risk to the
international financial system:
with strategic anti-money laundering and combating the financing of terrorism
(AML/CFT) deficiencies for which a call for action applies
with strategic AML/CFT deficiencies for which they have developed an action
plan with the FATF.
on Brazil’s progress in addressing the serious deficiencies identified in its
mutual evaluation reports, and the issues that remain unresolved.
on, and recognition of, AML/CFT improvements in Guyana.
on progress made on the development of the FATF Training and Research Institute
that opened on 20 September 2016.