By PAUL O’DONOGHUE, Senior Correspondent
GILES Thomson has been appointed as the new Vice President of the FATF (Financial Action Task Force).
Mr Thomson was elected by FATF members in February. His term at the Paris-based body, which sets international AML (anti-money laundering) standards, officially began this week.
Elisa de Anda Madrazo, President of the FATF, said he brings “deep experience across the Global Network”.
“[This] includes as former co-chair of the Global Network Coordination Group, and is widely respected and appreciated by FATF members,” she said.
“Today, together with FATF Executive Secretary Violaine Clerc, we held our first in-person meeting in his new role.
“A great start as we chart the path forward together.”
She added: “ I feel very fortunate to benefit from his expertise and support as I begin my second year as FATF President.”
Mr Thomson is set to lead FATF’s work on key new initiatives.
These will include strengthening the implementation of the risk-based approach and improving risk-based supervision.
Ms Madrazo said this work is “critical for the long-term impact of our standards”.
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