Financial Crime

Financial Action Task Force

COVID-19 - FATF extends its mutual evaluation assessment and follow-up deadlines - 28 April 2020

The Financial Action Task Force (FATF) has announced that it is extending its mutual evaluation assessment and follow-up deadlines in response to the disruption caused by the ongoing COVID-19 pandemic. It has published a revised mutual evaluation schedule.

The FATF has also decided to extend its deadline for a review of its list of high-risk jurisdictions subject to a call for action and jurisdictions subject to increased monitoring. Aside from Mongolia and Iceland, which have asked for their deadlines not to be extended, the FATF no longer plans to review the relevant jurisdictions in June 2020.

Press release: FATF extends its mutual evaluation assessment and follow-up deadlines in light of COVID-19

Please see the Banking and Finance section for an item on the FCA’s approach to the regulation of firms under the UK Coronavirus Business Interruption Loan Scheme (CBILS), including in relation to firms’ customer due diligence measures.