24/01/2002 (Agence Europe) - At its plenary meeting on 30 January-1 February in Hong Kong, the Action Task force on Money Laundering (FATF) will provide an update on the implementation of its action plan against the financing of terrorism. The 29 Member States that make up FATF, an independent organisation that works in conjunction with the OECD, are expected to present an initial assessment of the suitability of their legislation, together with the eight FATF recommendations on combating funding for terrorism, put forward last October (see EUROPE 5/6 November page 13). One of the priorities of the Spanish Presidency is to create a mechanism that will allow for the implementation of the eight FATF recommendations.