The Financial Action Task Force (FATF) is an international standard-setting body for anti-money laundering and counter-terrorist/proliferation financing (AML/CFT/CPF) standards. These standards largely determine how individual countries and providers comply with AML/CFT/CPF requirements. As such their impact on financial inclusion is significant. In 2024, FATF launched several important initiatives with implications for financial inclusion. Included among them are revisions of Recommendation 1 (Risk-Based Approach), Recommendation 16 (Travel Rule), and the Financial inclusion guidance. Under the FATF Mexican Presidency, the inclusion-focused work is likely to further intensify. CGAP has been monitoring the developments and bringing insights on their relevance to the financial inclusion community through this blog post series.
