Call for Input to FATF Project on Unintended Consequences of FATF Standards

April 15, 2021

The Financial Action Task Force (FATF), a global money laundering and terrorist financing watchdog, is calling for input from civil society for its project that focuses on the unintended consequences caused by the incorrect implementation of FATF Standards. The project focuses on the following four areas:

  1. De-risking, or the loss or limitation of access to financial services
  2. Financial exclusion, a phenomenon whereby individuals are excluded from the formal financial system and denied access to basic financial services
  3. Suppression of nonprofit organizations or the nonprofit sector as a whole through non-implementation of the FATF’s risk-based approach
  4. Threats to fundamental human rights stemming from the misuse of the FATF Standards to enact or justify laws which may violate rights such as the right to a fair trial

The FATF will accept inputs for the duration of this project but will prioritize submissions sent to before or on April 20, 2021.

To learn more, click here.