Elisa de Anda Madrazo: FATF's New President
On July 1, 2024, Elisa de Anda Madrazo officially began her two-year term as the President of the Financial Action Task Force (FATF), marking a significant milestone for both her career and the international financial regulatory community. This appointment makes her the first woman to hold this prestigious position in over two decades (Gobierno de México) (Mexico Business News).
Background and Experience
Elisa de Anda Madrazo brings a wealth of experience to her new role. She has been actively involved in combating money laundering and the financing of terrorism (AML/CFT) for over a decade. Before her presidency, she served as the Vice President of the FATF for three years, during which she led crucial initiatives and represented the organization globally (AML Intelligence) (AML Intelligence). Her previous roles within the FATF include head of the Mexican delegation, co-chair of the Global Coordination and Networking Group, and various other key positions (Mexico Business News) (AML Intelligence).
In addition to her work with FATF, Elisa has held significant positions within the Mexican government. She was an Attaché at the Mexican Embassy in Washington, D.C., focusing on strengthening bilateral AML/CFT relations with the United States (AML Intelligence). She also served as the Director General in Mexico’s Ministry of Finance and Public Credit and was the Coordinator of the Mexican Mutual Evaluation Process by the FATF, in collaboration with the IMF (AML Intelligence).
Elisa's educational background is equally impressive. She holds a law degree from Universidad Iberoamericana in Mexico City and two master's degrees from Harvard University – one in Law and another in Public Administration (AML Intelligence) (AML Intelligence).
Key Priorities for FATF Presidency
Elisa de Anda Madrazo's presidency is expected to focus on several key areas:
Financial Inclusion: Promoting financial inclusion to reduce the use of cash and unregulated channels, thereby mitigating risks associated with money laundering and terrorist financing (Gobierno de México).
High-Quality Assessments: Ensuring that the reports of the 5th round of assessments are of high quality, technically focused, and free from political influence (Gobierno de México).
Global Network Cohesion: Strengthening the cohesion of the FATF Global Network, which includes more than 200 governments, by fostering inclusiveness and collaboration (Gobierno de México) (AML Intelligence).
Implementation of FATF Standards: Supporting the effective implementation of FATF standards in areas such as beneficial ownership, virtual assets, and asset recovery (Gobierno de México).
Combating Terrorism Financing and WMD Proliferation: Enhancing global efforts to prevent and combat the financing of terrorism and the proliferation of weapons of mass destruction (Gobierno de México).
Challenges and Expectations
Elisa de Anda Madrazo's tenure comes at a time when the FATF is preparing for the 5th round of mutual evaluations and addressing the complexities posed by current geopolitics. Her leadership is anticipated to bring a fresh perspective, particularly from a Latin American viewpoint, on combating financial crimes globally (AML Intelligence) (ComplyAdvantage).
The international community, including former FATF President Dr. Marcus Pleyer, has expressed strong support for her appointment, highlighting her extensive experience and diplomatic skills as critical assets for navigating the challenges ahead (AML Intelligence).
As the new president, Elisa de Anda Madrazo is poised to steer FATF through an era of significant regulatory and operational advancements, aiming to enhance the integrity and security of the global financial system.
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