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On June 24, 2026, the Financial Action Task Force (FATF) launched a public consultation on new guidance to support the implementation of strengthened FATF Standards on payment transparency. The consultation invites stakeholder feedback from financial institutions, payment system operators, civil society, and the research community on draft guidance supporting revised FATF Recommendation 16, which was agreed in June 2025. The revisions to FATF Recommendation 16 aim to strengthen the safety and security of the international payment system by increasing transparency of information accompanying cross-border payments and requiring the introduction of tools to protect against fraud and error. All countries worldwide are expected to be ready to implement the changes by the end of 2030. The FATF is particularly seeking input from emerging economies and lower-capacity jurisdictions. The consultation addresses several key implementation issues, including detecting and preventing misdirected payments through alignment checks, supporting financial inclusion in lower-capacity jurisdictions, applying Recommendation 16 to newer payment methods such as digital wallets and mobile money, and implementing the standard while meeting data protection and privacy requirements. FATF President Elisa de Anda Madrazo said the guidance will "better equip authorities and financial institutions to follow the money and disrupt harmful criminal activity." Stakeholders must submit responses by Friday, August 21, 2026, to FATF.Publicconsultation@fatf-gafi.org with the subject line "Comments of [author] on the draft R.16 Guidance." Submissions should include the organisation name, nature of business, and contact details. The FATF will share comments with FATF delegations but will not disclose contact information to third parties without consent. The draft guidance and explanatory memorandum are available for download on the FATF website.