FATF’s Latest Round of Evaluations Proving Challenging for Some Nations, Says Group President

By Colby Adams and Kira Zalan

The Financial Action Task Force will work in the coming year to help nations struggling to adjust to its revised evaluation methodology, the intergovernmental group's new president said Wednesday. In an outline of his objectives through June 2016, former chairman of Korea's Financial Services Commission Je-Yoon Shin said that some countries are "having difficulties adjusting to new elements" of the organization's latest round of mutual evaluations, including its effectiveness reviews and recommendations that member-states draft national risk assessments. The organization, known as FATF, will task its Evaluations and Compliance Group to finalize a review of the first evaluations undertaken since...