FATF consultation on revisions to Recommendation 16 (Payment Transparency)

GBIC comments

German Banking Industry Committee Legal affairs Payment systems

Albrecht Wallraf

The Financial Action Task Force (FATF) launched a public consultation on revisions to the Recommendation 16 regarding Payment Transparency. GBIC points out in its comments that several proposed provisions should be revised to achieve a better balance between the objective of supporting AML/CFT efforts on the one hand, and accessible and efficient payments and data protection considerations on the other.

GBIC comments on FATF consultation

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14.04.2025

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Albrecht Wallraf

Payments

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