The FIAU would like to bring to your attention the following updates from the Financial Action Task Force (FATF):
FATF public consultation on guidance to increase payment transparency
In June 2025, the FATF adopted revisions to Recommendation 16 (R.16) and Interpretative Note 16 (INR.16) to enhance the transparency of information accompanying cross-border payments and to introduce measures aimed at preventing fraud and error. These changes, which should be implemented by the end of 2030, are aimed at combatting money laundering, financing of terrorism, proliferation of weapons of mass destruction and predicate offences, particularly fraud.
In this regard, the FATF has developed a draft Guidance for R.16, providing practical examples to assist stakeholders in understanding and implementing the requirements set out in the Recommendation. This draft Guidance should therefore be read in conjunction with R.16 and its Interpretive Note.
The FATF is inviting stakeholders, particularly financial institutions worldwide which have different business models, payment system operators, civil society organisations, emerging economies, lower-capacity jurisdictions, and other interested parties to provide their views on this draft Guidance for R.16.
Feedback is being sought on various matters, including:
- Detecting and preventing misdirected payments;
- Supporting financial inclusion during implementation, including in lower-capacity jurisdictions;
- The application of R.16 to emerging payment methods, such as digital wallets and mobile money; and
- The implementation of R.16 while ensuring compliance with data protection and privacy requirements.
The full list of consultation questions and further information can be found in the explanatory memorandum to this draft Guidance which is accessible directly from the FATF’s website.
Any responses to this public consultation should be sent by Friday 21 August 2026 to [email protected], with the subject line “Comments of [author] on the draft R.16 Guidance.”
Submissions should include the name of the organisation, the nature of the business, and the relative contact details.
FATF Publication on Detecting and Disrupting Terrorist Financing Activity through Social Media, Instant Messaging Applications and Streaming Platforms
The FATF has issued a publication aimed at raising awareness of the key trends and typologies associated with the misuse of social media, instant messaging applications, and streaming platforms (SMSPs) for terrorist financing purposes.
According to the publication, these platforms are being exploited by terrorists not only for propaganda and fundraising activities but also to facilitate fraudulent humanitarian and charitable crowdfunding campaigns, as well as to leverage creator-economy features such as live streaming and tipping mechanisms. Furthermore, terrorists are increasingly making use of virtual assets (VAs), including fundraising through rotating wallets and QR codes, alongside coded language, transitory content, and commercial entities to evade detection and obscure terrorist financing (TF) activities.
The report highlights the increasing sophistication of TF schemes, which are making use of artificial intelligence-driven content, encrypted communications, decentralised finance (DeFi), virtual assets, and embedded payment solutions.
To address these emerging threats, the publication outlines several recommendations aimed at assisting authorities and private-sector stakeholders in detecting and disrupting TF activities. These measures include, amongst others, strengthening cooperation between the financial sector and the technology industry, facilitating effective information sharing, and enhancing the integration of financial and digital intelligence.
Whilst SMSPs are not generally subject to AML/CFT obligations, the publication notes that the continued evolution of these platforms to incorporate, or provide access to, financial services may result in certain activities falling within sectors already covered by the FATF Standards.
For further information, subject persons and other interested parties may access the publication through the FATF’s website or via the FIAU’s website under the “FATF” section.