Financial Transparency Coalition

The Financial Action Task Force (FATF) is a global, instrumental inter-governmental group that develops and promotes policies battle money laundering and terrorist financing. The FATF issues a set of recommendations to outline criminal justice and regulatory measures that countries should implement to effectively fight these problems. This set includes the FATF’s 40 Recommendations, which cover a complete list of anti-money laundering (AML) measures and span the criminal justice system, law enforcement, the financial system, financial regulation, and international co-operation. Additionally, the FATF releases 9 Special Recommendations, which specifically address terrorist financing. Together the 40+9 Recommendations form the international standard for...

In June 2011, the Financial Action Task Force (FATF), published it's second public consultation paper seeking input as the organization conducts a review of its 40+9 Recommendations. Attached is the official response from the Task Force on Financial Integrity and Economic Development (Task Force).

WASHINGTON, DC – Senators Carl Levin (D-MI) and Chuck Grassley (R-IA) introduced bi-partisan legislation today, which would require companies to disclose the names of the beneficial owners of corporations and limited liability companies (LLCs) when formed. Anti-money laundering proponents, law enforcement groups, and financial transparency organizations consider the legislation, known as the Incorporation Transparency and Law Enforcement Assistance Act of 2011, a crucial step toward strengthening law enforcement and keeping criminal and tax evading money out of the U.S.

LONDON – The government is proposing to scrap more than two dozen criminal penalties underlying anti-money laundering procedures to encourage business to adopt a risk-based approach.