The Financial Action Task Force (FATF) has launched a global consultation seeking feedback from industry participants, civil society groups and researchers on new guidance aimed at supporting the implementation of strengthened international standards on payment transparency.

The proposed guidance relates to revisions to FATF Recommendation 16, commonly known as the “travel rule”, which were agreed upon in June 2025. The changes are intended to reflect developments in the global payments landscape while enhancing transparency, security and fraud prevention in cross-border financial transactions.

Revised Standards To Take Effect By 2030

According to a statement issued by the FATF, the updated Recommendation 16 seeks to improve the transparency of information accompanying cross-border payments and requires the introduction of measures designed to protect against fraud and payment errors.

The global anti-money laundering watchdog said all countries are expected to be prepared to implement the revised standards by the end of 2030.

FATF noted that the reforms are intended to strengthen the safety and integrity of the international payment system while ensuring that authorities and financial institutions are better equipped to track illicit financial flows.

Stakeholders Invited To Share Views

The organisation said it is seeking input from a broad range of stakeholders, including financial institutions operating under different business models, payment system operators, civil society organisations and members of the research community.

FATF particularly encouraged participation from stakeholders in emerging economies and lower-capacity jurisdictions, emphasising the importance of gathering diverse perspectives before finalising the guidance.

Feedback is being sought on several aspects of the proposed framework, including whether the guidance provides sufficient clarity on detecting and preventing misdirected payments through the alignment-check mechanisms introduced under the revised standard.

The consultation also seeks views on how implementation can support financial inclusion, particularly in jurisdictions with limited resources and technological capacity.

Focus On New Payment Technologies And Privacy

FATF is also inviting comments on the application of Recommendation 16 to emerging payment methods, including digital wallets and mobile money services, which have become increasingly important in many markets.

Another key area of consultation concerns how institutions can comply with the revised standards while simultaneously meeting data protection and privacy obligations.

The full list of consultation questions has been included in the explanatory memorandum accompanying the draft guidance document, according to the statement.

FATF President Elisa de Anda Madrazo said the consultation process is intended to ensure the guidance remains practical and effective for countries and financial institutions preparing for implementation.

“We want to ensure this new guidance is fit for purpose, and supports countries and financial institutions across the world in implementing the new ‘travel rule’ requirements by the deadline of 2030. I urge everyone with an interest to share their views, so that we can unleash the full potential of the strengthened Recommendation 16, which will better equip authorities and financial institutions to follow the money and disrupt harmful criminal activity,” she said.

The consultation marks another step in FATF’s efforts to modernise global anti-money laundering standards in response to evolving payment technologies and increasingly complex financial networks.

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