Chair – Ben DONALDSON (UK Finance)

The Financial Crime Working Group works closely with the inter-government Financial Action Task Force (FATF) to provide a private sector perspective on its work to promote national and international policies to combat money laundering and to prevent the financing of terrorism.

The Working Group acts as a forum for national banking associations to discuss the development of national industry guidance for banks to promote effective self-regulation and the sharing of international good practice.

The Working Group has been working more particularly on proliferation finance, financial inclusion, wire transfers, mutual evaluation, PEPs and new payment methods and the implementation of the revised standards.

The Working Group also engages with the UN Sanctions Committee and UN AML/CTF divisions to resolve practical operational difficulties as and when they arise. They identify and help resolve challenges with different sanctions mandates, also developing expertise and representing financial institutions’ interests in discussion of non AML/CTF financial crime issues.