The Financial Action Task Force (FATF) has completed its fourth round of mutual evaluations during its first plenary under the Mexican presidency. The global body, which sets standards for anti-money laundering and countering the financing of terrorism and proliferation of weapons of mass destruction (AML/CFT/CPF), is advancing efforts to improve understanding of evolving financial risks related to terrorism and proliferation.

"The United States commends the FATF’s accomplishment of raising the bar of all of its members’ compliance with international standards designed to fight financial crime," stated Secretary of the Treasury Janet L. Yellen. She emphasized that in future evaluations, all members, including the United States, must enhance their systems to curb illicit finance from crimes affecting citizens and governance.

The plenary adopted mutual evaluation reports for Argentina and Oman, completing the fourth round assessments. The FATF is nearing completion of over 200 member assessments on adherence to global AML/CFT/CPF standards aimed at preventing illicit finance.

Efforts are also underway to address terrorist financing risks, ensuring financiers cannot exploit global financial systems. In response to increasing concerns about proliferation, the FATF aims to assist governments and private sectors in evaluating financing risks related to weapons of mass destruction and combating sanctions evasion.

In coming weeks, a public consultation will be initiated by FATF on potential revisions to promote financial inclusion. The proposed changes aim to encourage countries to recognize both lower and higher risk areas, implementing simplified due diligence measures where appropriate.

As preparations begin for the fifth round of mutual evaluations this year, including those involving the United States, the Treasury Department continues pursuing AML/CFT reforms ahead of its own evaluation scheduled for early 2026.