UK FATF Mutual Evaluation Taskforce

Every six years under the 2022 FATF methodology, countries are assessed on their technical compliance with the FATF Recommendations on money laundering, terrorist financing and proliferation financing, and on the effectiveness of the measures that they have put in place. The on-site visit for the UK’s next evaluation is scheduled for July 2027 and preparations are well underway.

The UK has generally been regarded as having a robust legal and regulatory framework but faces inherent risks as a large economy. While the UK’s last evaluation in 2018 was relatively positive, some areas of significant weakness were identified. The UK has sought to address these over the last decade, but has it done enough to address its risks? The FATF’s increasing focus on the effectiveness of a country in managing money laundering, terrorist financing and proliferation financing risks means that technical compliance with the FATF Recommendations alone is not enough.

The Centre for Finance and Security has established a UK FATF Taskforce, bringing together a small group of experts to explore these issues, and provide practical recommendations for and constructive feedback on the mutual evaluation (ME) process.