FATF looks at unintended consequences of standards

FATF has published a high level synopsis of its stocktake in its project to look at the unintended consequences of incorrect implementation of its standards. It will now move on to identifying and considering potential options to mitigate them.  The key problem areas have been identified as derisking, financial exclusion, undue targeting of NPOs and curtailment of human rights.  The synopsis confirms the significant challenges that derisking and financial exclusion in particular present. As it works on recommendations for mitigating these consequences, FATF continues to welcome comments.