Recording: The FATF Standards and Unintended Consequences: Part 2: Evaluating the Present
Part two of our series ‘FATF: Past, Present and Future in the Unintended Consequences Debate’.
Overview
How far has the standard setter come and where is it heading? As the Financial Action Task Force (FATF) considers ways to mitigate the unintended consequences of its financial crime standards, this three-part webinar series will assess the FATF’s work on this issue to-date, consider current challenges and look ahead to future ways in which its standards might be manipulated.
Background
In early 2021, the FATF announced it would be launching a new research initiative ‘to study and mitigate the unintended consequences resulting from the incorrect implementation of FATF Standards’. It identified four main affected areas: (1) de-risking; (2) financial exclusion; (3) suppression of non-profit organisations or the non-profit sector as a whole; and (4) threats to fundamental human rights.
The second webinar in this series highlights how unintended consequences are felt in present-day contexts. Considering the experience of the coronavirus pandemic, our panel assess the FATF’s work on financial exclusion and how the current unintended consequences working group could mitigate the negative impact of the FATF framework on financial inclusion.
The discussion is chaired by CFCS Research Fellow Isabella Chase.
About the speakers
Panellists include:
- Maha Bahou, Jordan Payments & Clearing Company
- Adam Anklewicz, Revolut Poland
- Barry Cooper, Technical Director, Cenfri