FATF approves travel rule changes in joint plenary with MONEYVAL

The Financial Action Task Force (FATF) updated the travel rule in Recommendation 16 during its latest plenary, which closed on 13 June [2025]. The reform will clarify the information that must be collected by financial services during transactions, especially cross-border payments exceeding US$/€1,000.

By Keith Nuthall

The Financial Action Task Force (FATF) updated the travel rule in Recommendation 16 during its latest plenary, which closed on 13 June [2025]. The reform will clarify the information that must be collected by financial services during transactions, especially cross-border payments exceeding US$/€1,000.