This Anti-Corruption Helpdesk brief was produced in response to a query from a U4 Partner Agency. The U4 Helpdesk is operated by Transparency International in collaboration with the U4 Anti-Corruption Resource Centre based at the Chr. Michelsen Institute.
Query
How do low and middle-income countries (LMICs) view and engage with the Financial Action Task Force (FATF) standard setting process?
The FATF standard setting process is primarily set by FATF members, but engagement from others (particularly LMICs) is facilitated through the FATF-style regional bodies (FSRBs) which hold associate member status. The standards are also reviewed, which gives external stakeholders the opportunity to give feedback on their content. Nonetheless, a body of literature maintains that the FATF has not achieved sufficient inclusion of LMICs when setting and implementing its standards.
- Background
- The FATF standard setting process and the engagement of LMICs
- Views on the FATF’s engagement with LMICs
- Responses to grey/black listing
- Measures taken by the FATF
- Recommendations put forward in the literature
- References
Authors
Caitlin Maslen (TI)
Reviewers
Rosa Loureiro-Revilla (U4)
Jamie Bergin (TI)
Date
18/09/2023
