Blog

10
nov

G20 underlines the necessity to identify the beneficial owner of corporate vehicles

G20 membersconfirmed their commitment to FATF

During the meeting of the G20, held 4-5 November 2012 in Mexico City, the Ministers of Finance and Central Bank Governors have reaffirmed their commitment to the FATF and its objectives in the communique released following their meeting:

Paragraph 20: “We remain committed and encourage the FATF to continue to pursue all its objectives, and notably to continue to identify and monitor high-risk jurisdictions with strategic Anti-Money Laundering/Counter-Terrorist Financing (AML/CFT) deficiencies. We look forward to the completion in 2013 of the revision of the FATF assessment process. We encourage all countries to adapt their legal framework with a view to complying with the revised FATF’s Recommendations, in particular the necessity to identify the beneficial owner of corporate vehicles, and we look forward to the assessment of the effectiveness of the measures countries take and their compliance with the global standards in the next round of Mutual Evaluations.”

www.fatf-gafi.org