The Financial Action Task Force (FATF) published a speech by its President to the No Money for Terror conference in Munich calling on jurisdictions to step up the use and cross-border exchange of financial intelligence to detect, disrupt and investigate terrorist financing. The address also flagged shortcomings identified through FATF mutual evaluations, including that fewer than a third of countries are investigating and prosecuting terrorist financing adequately. As context for the urgency, the speech cited the Global Terrorism Index showing terrorism deaths rose by 22% in 2023 to 8,352, the highest level since 2017, and pointed to operational value from information sharing, including three terror plots dismantled during the Paris Olympic Games after France’s Financial Intelligence Unit shared intelligence with domestic and international partners. It reiterated that FATF Standards provide a framework for accessing and exchanging financial intelligence, and highlighted ongoing work on emerging abuse channels such as social media, crowdfunding and virtual assets, alongside closer cooperation with the private sector including banks, payment platforms and virtual asset service providers. The FATF plans to release a comprehensive analysis of terrorist financing this year, drawing on case material submitted by its Global Network of more than 200 jurisdictions.
Financial Action Task Force 2025-02-13
Financial Action Task Force President announces forthcoming comprehensive terrorist financing analysis and urges wider financial intelligence sharing
The FATF President urged jurisdictions at the No Money for Terror conference to enhance financial intelligence use and exchange to combat terrorist financing. The speech highlighted deficiencies in FATF evaluations, noting less than a third of countries adequately address terrorist financing. It emphasized information sharing, citing successful terror plot disruptions, and ongoing work on emerging abuse channels and private sector cooperation.