Ministers commit to swift and decisive action to improve compliance and implementation of FATF standards
The ministers of the Financial Actional Task Force (FATF) at their biennial meeting in Washington last week said they “note with concern” that effectiveness of measures in place to fight money laundering, terrorist financing, and proliferation financing, remains insufficient in many countries. They committed to…
Landmark FATF report: “tick-box” approach not enough, focus on results and implementation needed
Most countries have yet to make sufficient progress on preventing legal persons and arrangements from being abused for money laundering and terrorist financing according to a landmark report published by the Financial Action Task Force (FATF). Report on the State of Effectiveness and Compliance with…
FATF publishes survey results on cross-border payments and the implementation of its standards
The Financial Action Task Force (FATF) says it has published its final report on its survey to identify areas where divergent anti-money laundering and counter financing of terrorism (AML/CFT) rules or their implementation cause friction for cross-border payments. Cross-border Payments – Survey Results on the…
FATF sets key priorities for wider partnerships to counter money laundering from environmental crime
A new report published by the Financial Action Task Force (FATF) shows the significant role of trade-based fraud and misuse of shell and front companies to launder gains from illegal logging, illegal mining, and waste trafficking. Criminals meanwhile comingle legal and illegal goods early in…
