// ECONOMIC SECURITY: FINANCIAL CRIME
Illicit finance in a digital age: closing the global enforcement gap
S ince it created the Financial Action Task Force, the G7 has played an important role in elevating the fight against illicit finance on the international agenda, helping to mobilise political attention at key moments. At the same time, the strength of the FATF lies in its Global Network, which drives the implementation of the FATF Standards, mutual accountability and assessment of risks across more than 200 jurisdictions. By keeping the fight against finan- cial crime high on the agenda during its G7 presidency, France is reinforcing the importance of sustained, collective action against evolving financial crime risks. And the urgency of the challenge has become even more acute, with financial crime threats intensifying, evolving and becoming increasingly interconnected.
As financial crime evolves in scale and sophistication – leveraging digital tools and cross-border networks – gaps in implementation continue to undermine global efforts to combat illicit finance Elisa de Anda Madrazo, president, Financial Action Task Force
Criminals and terrorist groups are rapidly adapting, blending traditional methods with advanced digital tools and exploit- ing emerging technologies to fuel illicit activity. A devastating example of this is the number of citizens around the world who are falling victim to scams at an escalat- ing rate, creating a true fraud epidemic, including cyber-enabled fraud. This has been identified as a major money laun- dering risk by 90% of the jurisdictions assessed by the FATF Global Network. That is why FATF ministers recently declared fraud, terrorist financing and transnational organised crime as priority risks that demand urgent attention. FROM STANDARD SETTING TO EFFECTIVE ENFORCEMENT In recent years, the FATF has strength-
54 // G7 FRANCE: THE ÉVIAN SUMMIT 2026
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