First FATF plenary under UK Presidency to take place from October 28-30
The Financial Action Task Force will hold its first plenary meeting under UK Presidency from October 28 to 30 in Paris, concluding FATF Week which begins on Monday. Giles Thomson, who assumed the presidency on July 1, 2026, succeeding Elisa de Anda Madrazo of Mexico, will chair the three-day gathering at the organization's headquarters.
Delegates from across the FATF Global Network of more than 200 jurisdictions and observer organizations will participate in the meeting to exchange perspectives on evolving threats to global financial integrity and security. The network includes FATF's 40 members—38 jurisdictions and two regional organizations, the Gulf Cooperation Council and the European Commission—alongside partner bodies worldwide.
Thomson will be supported by Vice-President Vivek Aggarwal from India, who took office alongside the President on July 1, 2026, replacing Thomson in the vice-presidential role.
Guest Initiative expands participation
For the first time, Barbados, Namibia and Thailand will participate under the FATF-Style Regional Body Guest Initiative. Launched in 2024, the initiative aims to broaden perspectives from different regions to inform the FATF's work and strengthen the global fight against illicit finance. Previous participants in the program included Jamaica and Nigeria in 2025, as well as Cayman Islands, Senegal and Kenya in earlier cycles.
The Guest Initiative forms part of broader coordination efforts that include the Global Strategy Group, established in June 2026 and chaired by the FATF President, which brings together Chairs of FATF-Style Regional Bodies to strengthen collaboration across the network.
Fraud takes center stage
Delegates will advance work under the FATF's roadmap on combating fraud, addressing what has become one of the world's largest generators of criminal proceeds. Fraud featured as a major proceeds-generating offense in nearly 90 percent of assessments in the last evaluation round, with scam losses estimated at close to 500 billion dollars globally across 2024 and 2025.
Mutual evaluation reports expected
The plenary is expected to discuss mutual evaluation reports of Mexico and the United States under the new round of mutual evaluations. These assessments, which began in 2024 using the 2022 Methodology, examine the effectiveness of countries' measures to combat money laundering, terrorist financing and proliferation financing, as well as their compliance with the FATF Recommendations.
The current evaluation round operates on a six-year cycle, significantly shorter than the previous 10-year average, and assesses both technical compliance with FATF's 40 Recommendations on a four-point scale and effectiveness across 11 Immediate Outcomes rated at four levels: High, Substantial, Moderate and Low.
Progress review for monitored jurisdictions
Delegates will also review progress made by jurisdictions under increased monitoring. As of June 2026, 22 jurisdictions were on the so-called grey list, including newly identified Bosnia and Herzegovina and Iraq. Algeria and Namibia were removed from increased monitoring during the June plenary.
A summary of the plenary outcomes will be published on the FATF website following the conclusion of the meeting. On Friday, October 30, the FATF President will hold a virtual press conference at 17:00 CEST to announce the results of the gathering.
