The Financial Action Task Force (FATF) will meet in Plenary Session on 12–14 October, in Paris.

Plenary participants will discuss the two-fold links between corruption and money laundering/terrorist financing:

– the proceeds of corruption are likely to be laundered;

– corrupt institutions are liable to impede efforts to stop money laundering or to counter terrorist financing.

These discussions will lay the ground work for FATF to develop appropriate strategies to deal with the issue.

The Plenary will also issue country-specific reports evaluating the anti-money laundering and counter terrorism financing legislation and enforcement of Australia, Italy and Switzerland.

This first Plenary under the presidency of South Africa will be chaired by Mr. Kader Asmal, President of the FATF.

It is anticipated that a Press Release will be held on Thursday, October 13 to outline the Plenary discussions and highlights of the country-specific reviews.