G20 Summit 2023 Delhi G20 New Delhi Declaration Leaders To Support Increasing Resources For Financial Action Task Force Counter Terrorism
ABP NewsThe members of the G20 nations have reached a consensus on Saturday regarding countering terrorism and money laundering. The G20 leaders have also agreed to commit to supporting the increasing resource needs of the Financial Action Task Force and FATF Style Regional Bodies and encourage others to do the same, including for the next round of mutual evaluations. “We welcome the ongoing work of the FATF to enhance global efforts to recover criminal proceeds, in particular, the progress made by the FATF towards revising its standards on asset recovery and reinforcing global asset recovery networks. We reiterate the importance of countries developing and implementing effective regulatory and supervisory frameworks to mitigate risks associated with virtual assets in line with FATF Standards, especially for terrorism financing, money laundering, and proliferation financing risks. In this regard, we support the FATF's initiative to accelerate the global implementation of its standards, including the ‘travel rule’, and its work on risks of emerging technologies and innovations, including decentralised finance arrangements and peer-to-peer transactions,” the declaration stated.