May 18, 2026 · 31 min · 8 segments
In this Special episode of Collared we’ll be speaking to Elissa De Anda Madrazo, President of FATF – the global Financial Action Task Force. As she comes to the end of her presidency, Senior…
This gives me an opportunity to revisit some of the landmark work that the FATF has done during the last five plenaries.
And just to give a context to the audience, the FATF does three main things.
We conduct assessments, we do policy work, which means we set up the standards, and we follow up on the risk and trend.
With regards to the assessments, we started a new round of assessments.
And during the Mexican presidency, we assessed five jurisdictions so far.
The one on Italy just came out last week, and within the next week we're gonna be issuing two other reports.
This gives the audience and the stakeholders a first snapshot of how the new round is going.
And as I mentioned, this is much more focused on the risk and the context of the jurisdictions, and the expectation was to give better and more targeted recommended actions to the jurisdictions, those that would trigger more change, and to have a more extensive and continuous follow-up on those actions.
So I invite the audience to consult these five reports that we have issued.
In terms of the policy work, very importantly, we updated two recommendations.
Recommendation 16, that has to do with the payment system, with the cross-border payments, and this was a landmark work by the FATF.
It had been 16 years since we had touched this recommendation, and the architecture of the financial system is just so different.
It used to be the case that most of the wires were done by banks, and now we don't even talk about wires.
We have transactions that go over a multiplicity of jurisdictions to do one transaction.
So the rules really needed to be updated, and this is to provide clarity for everyone.
It's clarity on the information, who has to collect that information, who has to keep it, how can the authorities access it, so it will really bring everyone on the same level playing field, and importantly, bring transparency to the cross-border payments with good and important safeguards for fraud and error.
This gives me an opportunity to revisit some of the landmark work that the FATF has done during the last five plenaries.
And just to give a context to the audience, the FATF does three main things.
We conduct assessments, we do policy work, which means we set up the standards, and we follow up on the risk and trend.
With regards to the assessments, we started a new round of assessments.
And during the Mexican presidency, we assessed five jurisdictions so far.
The one on Italy just came out last week, and within the next week we're gonna be issuing two other reports.
This gives the audience and the stakeholders a first snapshot of how the new round is going.
And as I mentioned, this is much more focused on the risk and the context of the jurisdictions, and the expectation was to give better and more targeted recommended actions to the jurisdictions, those that would trigger more change, and to have a more extensive and continuous follow-up on those actions.
So I invite the audience to consult these five reports that we have issued.
In terms of the policy work, very importantly, we updated two recommendations.
Recommendation 16, that has to do with the payment system, with the cross-border payments, and this was a landmark work by the FATF.
It had been 16 years since we had touched this recommendation, and the architecture of the financial system is just so different.
It used to be the case that most of the wires were done by banks, and now we don't even talk about wires.
We have transactions that go over a multiplicity of jurisdictions to do one transaction.
So the rules really needed to be updated, and this is to provide clarity for everyone.
It's clarity on the information, who has to collect that information, who has to keep it, how can the authorities access it, so it will really bring everyone on the same level playing field, and importantly, bring transparency to the cross-border payments with good and important safeguards for fraud and error.
The rest of this transcript — segmented and speaker-labeled, so you land on the exact moment something was said
Search every transcript — by keyword, by phrase, or by meaning, across every show Radar indexes
Trends — what is surging across podcasts, measured against its own baseline
Alerts — when a name you follow appears in a newly indexed episode
No account is needed to search Radar.
