Paris, Oct. 31 -- The inaugural Financial Action Task Force (FATF) Plenary meeting under the UK Presidency of Giles Thomson concluded in Paris, with countries agreeing on global action to tackle evolving financial crime threats, including the rising threat posed by virtual assets, fraud and scam compounds.

According to a statement of outcomes by FATF member countries, in response to the FATF Ministerial Declaration of April 2026, the Plenary agreed to significantly accelerate the effective implementation of the FATF Standards on virtual assets (VAs) in jurisdictions with materially important VA activity. The Plenary recognised the need to urgently strengthen countries' defences against the rising threat posed by the misuse of virtual ass...