Germany will push for more rigorous anti-money laundering (AML) and counter-terrorism financing (CTF) measures under the Financial Action Task Force (FATF), as the country assumes the presidency of the body. The commitment comes as Dr. Marcus Pleyer, deputy director general at the German Federal Ministry of Finance, becomes FATF president, starting a two-year term from July 1. In a paper setting out objectives for the term, Dr. Player said the organization would build on previous efforts to develop standards for AML and CTF, with a focus on strengthening measures applying to the digital currency and payments sectors. According to the paper, the FATF is actively monitoring the increasing digitization of economies around the world, with an eye on the opportunities and risks thrown up by the transition to digital payments. Working closely with Members and the FATF Secretariat over the next two years, the German Presidency will continue to strengthen the FATF’s governance, enhance its strategic focus, increase its public visibility and reinforce its fight against money laundering, terrorist financing and the financing of weapons of mass destruction (proliferation financing). The paper goes on to set out a range of other objectives, including tackling financial schemes designed to promote ethnically motivated terrorism and environmental crimes. “The FATF will also prioritise work to tackle some of the great challenges facing societies around the world including the opportunities that new technology offers to strengthen AML/CFT systems through digital transformation; ethnically or racially motivated terrorism; migrant smuggling; environmental crime and illicit arms trafficking.” The body also held a plenary session back in June, in an attempt to gauge progress on the implementation of previous AML regulations for digital currencies. The German presidency of the Financial Action Task Force takes over from Xiangmin Liu, who held the post for two years representing China.