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NEWS: Governments pledge increases to FATF funding, reduce ‘gaps’ in fight against global fincrime

PRESIDENT: FATF's president T Raja Kumar has major discretionary powers at the FATF plenary. How will he respond to both sides on demands about Russia?

By Paul O’Donoghue

The Ministers of the Financial Action Task Force (FATF) have committed to more funding as part of an effort to reduce “gaps” in the effective implementation of the organisation’s standards.

During their biennial meeting in Washington DC, the FATF ministers signed a document containing 21 declarations which will govern how the organisation operates for the coming two year period.

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