Citizens and the private sector are the first line of defense against money laundering and terrorist financing, says FATF president

Summary:

Brazil has been criticized by the Financial Action Task Force (FATF) for failing to implement recommendations to tackle money laundering and terrorist financing. Despite this, Brazil has shown progress in implementing anti-money laundering and combating terrorist financing regulations. The country is set to assume the presidency of the G20 in 2023, giving it a key role in shaping the FATF's strategic priorities for the next two years. The Global AML/KYC Forum (Gafi) plays a crucial role in this process, allowing countries to evaluate their AML/CTF systems and identify areas for improvement. The document highlights the importance of public-private cooperation in combating financial crimes and emphasizes the need for countries to prioritize the implementation of measures to prevent money laundering and terrorist financing through cooperation.