General Glossary

ANNEX II: Information on updates made to the FATF Recommendations

Date	Amendment	Corrected sections
Feb 2013	Alignment of the Standards between R.37 and R.40	Insertion of the reference that DNFBP secrecy or confidentiality laws should not affect the provision of mutual legal assistance, except where the relevant information that is sought is held in circumstances where legal professional privilege or legal professional secrecy applies.
October 2015	Revision of the Interpretive Note to R. 5 to address the foreign terrorist fighters threat	Insertion of B.3 to incorporate the relevant element of United Nations Security Council Resolution 2178 which addresses the threat posed by foreign terrorist fighters. This clarifies that Recommendation 5 requires countries to criminalise financing the travel of individuals who travel to a State other than their States of residence or nationality for the purpose of the perpetration, planning, or preparation of, or participation in, terrorist acts or the providing or receiving of terrorist training. Existing B.3-11 became B.4-12.
June 2016	Revision of R. 8 and the Interpretive Note to R. 8	Revision of the standard on non-profit organisation (NPO) to clarify the subset of NPOs which should be made subject to supervision and monitoring. This brings INR.8 into line with the FATF Typologies Report on Risk of Terrorist Abuse of NPOs (June 2014) and the FATF Best Practices on Combatting the Abuse of NPOs (June 2015) which clarify that not all NPOs are high risk and intended to be addressed by R.8, and better align the implementation of R.8/INR.8 with the risk-based approach.
October 2016	Revision of the Interpretive Note to R. 5 and the Glossary definition of 'Funds or other assets'	Revision of the INR.5 to replace “funds” with “funds or other assets” throughout INR.5, in order to have the same scope as R.6. Revision of the Glossary definition of “funds or other assets” by adding references to oil and other natural resources, and to other assets which may potentially be used to obtain funds.
Jun 2017	Revision of the Interpretive Note to R.7 and the Glossary definitions of “Designated person or entity”, “Designation” and “Without delay”	Revision of the INR.7 and consequental revisions of the Glossary definitions of “Designated person or entity”, “Designation” and “Without delay” to bring the text in line with the requirements of recent United Nations Security Council Resolutions and to clarify the implementation of targeted financial sanctions relating to proliferation financing.
June 2017	Revision of the Interpretive Note to R.7 and the Glossary definition of “Designated person or entity”, “Designation” and “Without delay”	INR. 7 and Glossary Revision of the INR.7 and consequential revisions of the Glossary definitions of “Designated person or entity”, “Designation” and “Without delay” to bring the text in line with the requirements of recent United Nations Security Council Resolutions and to clarify the implementation of targeted financial sanctions relating to proliferation financing.
Nov 2017	Revision of the Interpretive Note to Recommendation 18	INR. 18 Revision of INR.18 to clarify the requirements оn sharing of information related to unusual or suspicious transactions within financial groups. It also includes providing this information to branches and subsidiaries when necessary for AML/CFT risk management.
Nov 2017	Revision of Recommendation 21	R. 21 Revision of R. 21 to clarify the interaction of R. 18 requirements with tipping-off provisions.
Feb 2018	Revision of Recommendation 2	R. 2 Revision of R. 2 to ensure compatibility of AML/CFT requirements and data protection and privacy rules, and to promote domestic interagency information sharing among competent authorities.
Oct 2018	Revision of Recommendation 15 and addition of two new definitions in the Glossary	Revision of R.15 and addition of new definitions “virtual asset” and “virtual asset service provider” in order to clarify how AML/CFT requirements apply in the context of virtual assets.
June 2019	Addition of Interpretive Note to Recommendation 15	INR. 15 Insertion of an Interpretive Note that sets out the application of the FATF Standards to virtual asset activities and service providers.