The FATF webinar discussed the impact of COVID-19 on the detection of money laundering and terrorist financing, highlighting ongoing monitoring since a May 2020 report. The pandemic revealed vulnerabilities in systems but demonstrated overall resilience, emphasizing the effectiveness of a risk-based approach. Key focus areas included flexibility, coordination, private sector engagement, and support for technology in addressing these challenges.

1. FATF Webinar
The Impact of COVID-19 on the
Detection of Money Laundering &
Terrorist Financing
31 July 2020
Slides and
Poll results

2. Daniel Thelesklaf
Former Chair (MONEYVAL)
and outgoing co-chair of
the FATF Risks Trends and
Methods Working Group
Moderator
Marcus Wogart
Global Head of Financial
Crime Compliance
Retail and Wealth
Management
HSBC Group
Panellists
William Fox
Managing Director
Global Head of Financial
Crimes Compliance
Bank of America
Valerie Tay
Executive Director
Anti-Money Laundering
Department
Monetary Authority of
Singapore
Hennie Verbeek-
Kusters
Chair of the Egmont Group
Head of the Financial
Intelligence Unit of
the Netherlands

3. • The FATF published a paper on COVID-19 in May 2020
and is continuing to monitor the situation
• The crisis has exposed weaknesses in some systems and
institutions including poor business continuity planning
and outdated technology infrastructure
• Overall, global systems have been resilient and adaptive
and the risk-based approach set out in the FATF
Standards helps countries to respond appropriately
• Many countries have noted flexibility, the risk-based
approach, domestic coordination, engagement with the
private sector and support for technological solutions as
important to their response

4. Poll results question 1

5. Poll results question 2

6. Poll results question 3