**Annual Report and Report on Non-Cooperative Countries and Territories – June 21 News Conference**

In Paris today, the Financial Action Task Force on Money Laundering (FATF) announced that it will issue its thirteenth annual report on its anti-money laundering and anti-terrorist financing activities. Additionally, it will release a new report updating its findings on the non-cooperative countries and territories in the international fight against money laundering.

The FATF also plans to outline the results of the self-assessment of its members on the measures they have taken to counter the financing of terrorism.

Mrs. Clarie Lo, FATF President, Mr. Jochen Sanio, future FATF President, and Mr. Patrick Moulette, FATF Executive Secretary, will discuss the highlights of the reports at a News Conference to be held on Friday, June 21.

Currently, the Financial Action Task Force (FATF) is in the process of consulting all interested parties on review of its “Forty Recommendations” on money laundering. These have become the global anti-money laundering standard.

The FATF has invited interested parties to provide comments on the proposals contained in the Consultation Paper, no later than 31 August 2002. *(See Industry News Item 31/5/02)*