Morris-Cotterill: First thoughts on the FATF's revised processes
Four things jumped out at me:
1. I didn't see any of the much trumpeted reversal of the policy to stop picking on small and poor jurisdictions.
2. I failed to pick my way through the buzzwords and acronyms that defy all attempts to make sense of the document in any reasonable time.
3. The FATF officially disapproves of online meetings and says that meetings should be conducted in person. It makes no mention of the cost to the environment or to taxpayers of such a policy.
4. The FATF used to have a time-limit on its life then it decided to vote itself perpetual life unless it decided otherwise. There are comments in this that seem to imply it will last for ever.
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