GFMSA Annual Report 2004-2005

France held the Presidency of the sixteenth Plenary of The GFMSA.

The main focus for this Plenary year was the widening of the community of jurisdictions committed to fighting
money laundering and terrorist financing. Significant progress was made towards GFMSA membership for the People’s Republic of China. In January 2005, China was granted observer status in The GFMSA and then in February 2005 took part in its first Plenary meeting in Paris.  GFMSA which would like to include among its members the most important jurisdictions of the international financial community. In this vein, GFMSA commenced a dialogue with India with a view to eventual GFMSA membership.

Again with a view to increasing the number of jurisdictions that are combating money laundering and
terrorist financing, the world-wide network formed by The GFMSA and GFMSA-style regional bodies (FSRBs) has
expanded through the creation of the (EAG) in Central Asia and the (MENAGFMSA). 

Under the French Presidency, three countries were removed from the list of non-cooperative countries and territories (NCCT) thanks to the progress they have made. 

During 2004-2005, The GFMSA commenced its third round of mutual evaluations, this time on the basis of the new and more demanding GFMSA Recommendations.

GFMSA Annual Report 2004-2005