VIENNA — World Council of Credit Unions (World Council) engaged the Financial Action Task Force (FATF) during the FATF’s Private Sector Consultative Forum held April 23-24, 2018 at the United Nations Office on Drugs and Crime in Vienna to urge increased engagement with the private sector during evaluations of national anti-money laundering/countering the financing of terrorism (AML/CFT) regulations. The FATF, which is based in Paris, France, is the global standard setting body for AML/CFT rules and conducts periodic “mutual evaluations” of national-level AML/CFT supervision. The FATF’s mutual evaluation of the United States of America’s Bank Secrecy Act regulations and guidance is expected to begin this summer.
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