WASHINGTON: The Financial Action Task Force (FATF) completed day three of its plenary session on Thursday with a discussion focusing on the fight against money laundering and terrorist financing.

The delegates also discussed a report on how to help the real estate sector tackle illicit finance, the FATF said in a tweet.

The FATF is a global task force for combating money laundering and terrorist financing.

The four-day plenary session began in Berlin, Germany, from Tuesday.

Delegates representing 206 FATF members and observers are attending the plenary session. The observers include the International Monetary Fund (IMF), the United Nations, the World Bank, and the Egmont Group of Financial Intelligence Units.

A report discussed on Thursday noted that despite significant progress in many areas, effectiveness of the measures in place to fight money laundering, terrorist financing, and proliferation financing has not yet been achieved across all countries.

The report commits FATF members to taking “swift and decisive action” to improve the effectiveness of the measures in all FATF jurisdictions.

Published in Dawn,June 17th, 2022