By ALISHA HOULIHAN for AML Intelligence
WHAT a difference two years make in the outlook of a powerful organization like the Financial Action Task Force (FATF).
This week the agency was being praised for a tangible improvement in promoting diversity and inclusion – something that should be intrinsic for a such an international body representing fincrime fighters across the globe – but regrettably was often far from visible.
Two years ago the Paris-based organization, which sets international AML standards, received stinging criticism over an official photography from its Singapore summit – featuring almost exclusively men in suits, the so-called “Boys Club.”
The “Boys Club” photo attracted much derision led out by our own Special Correspondent Elizabeth Hearst.
What a relief then today to witness the new-look FATF led out by its President Elisa de Anda.
The photo from the latest FATF plenary in Paris, which began earlier this week, showscases a much more diverse lineup of attendees.
FATF noted in a post on LinkedIn that its latest plenary marks the first time that Senegal and the Cayman Islands will have “a seat and a voice at the table”.
The plenary is the first since Elisa de Anda Madrazo began her term as FATF president.
De Anda has repeatedly championed the role of smaller countries. She recently announced an overhaul of the FATF greylist rules, aimed at ensuring that fewer smaller nations receive the designation, which can often be crippling for struggling jurisdictions.
De Anda has also spoken out on the importance of acknowledging leading women in the AFC space.
FATF held its first event dedicated to Women Leaders in FATF last year – six months after the ‘men only’ photocall in Singapore.
Speaking at that event, de Anda said that industry figures should be “bothered and uncomfortable” with the assumption that “men are standard, and women the exception”.
“It is not right. So while we start to see more positive outcomes, let’s celebrate them, but keep being uncomfortable until there is no standard and no exception, but complete equality,” she said.
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