Mexico City, Feb. 14 -- The Financial Action Task Force (FATF) concluded its fifth plenary under the Mexican presidency this week, drawing more than 600 delegates to Mexico City in what leaders described as a united front against illicit finance.

The plenary approved the FATF's strategic priorities for 2026 to 2028, which will be presented to ministers for endorsement in April. Central to the new agenda is an intensified focus on fraud, now described as an epidemic affecting jurisdictions worldwide.

Citing estimates from the Global Anti-Scam Alliance, the President Claudia Sheinbaum noted that USD 1 trillion was lost to scams globally in a single year. In addition, 90 percent of countries have identified fraud among their top financial ...