FIC: Outcomes of the June 2026 meeting of the FATF

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FIC: Outcomes of the June 2026 meeting of the FATF

• 15 July 2026
• Accounting
• South African Accounting Academy

Summary:
South Africa participated in the FATF meetings held in June 2026, where a range of matters related to strengthening global measures against financial crime were discussed.

Article:
At these meetings, the FATF addressed a number of issues relating to the strengthening of the global measures to combat money laundering, and the financing of terrorism and the proliferation of weapons of mass destruction.  

Key among these are the following: 

• adopting the mutual evaluation reports of Canada and Türkiye,  
• updating the FATF Standards relating to terrorist financing,  
• providing an overview of public-private partnerships and information sharing, 
• inviting public comments on guidance to strengthen payment transparency, 
• approving new publications on detecting and disrupting money laundering and terrorist financing, 
• approving a targeted update on the implementation of the FATF Standards on crypto assets (CAs) and Crypto Asset Service Providers (CASPs), and 
• identifying high-risk and other monitored jurisdictions. The FATF’s suspension of the membership of the Russian Federation continues to stand. 

Click here to download the 5-page document:

https://www.fic.gov.za/wp-content/uploads/2026/06/2026.6-GN-Outcomes-Notice-June-2026.pdf 

Relevance to Auditors, Independent Reviewers & Accountants:

• FICA is yet another piece of legislation that your clients must comply with, and which you must assess compliance with.  If they don’t comply with the relevant laws and regulations, you have certain reporting obligations in terms of NOCLAR (NOn-Compliance with Laws And Regulations) – this could include reporting to management, qualifying your audit opinion, reporting a Reportable Irregularity, etc.
• Auditors, Independent Reviewers and Accountants should be aware of the latest publications and guidance issued by regulators, such as the FATF.
• As an accountable institution, a business owner and individual, you need to be aware of developments in respect of our country’s listing.

Relevance to Your clients:

• An accountable institution, as well as an entity (company or close corporation), has a duty to comply with the FICA, otherwise they could be held liable.
• As an accountable institution, a business owner and individual, you need to be aware of developments in respect of our country’s listing, especially updates by the FATF.

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