April 25th, 2012
Last weekend the international body that sets global anti-money laundering rules, the Financial Action Task Force (FATF), announced its new 8 year mandate. This document sets the international framework for the fight to tackle financial crime.
April 13th, 2012
Ministers from Financial Action Task Force (FATF) member countries will meet in Washington DC on 20 April to extend the FATF mandate for another 8 years, continuing to safeguard the integrity of the international financial system.
The FATF Ministerial Meeting will take place in the margins of the 2012 IMF / World Bank Spring Meetings. It follows on the recent publication of the revised FATF 40 Recommendations, the international standard for combating money laundering and the financing of terrorism and weapons of mass destruction.
March 20th, 2012
Global Witness's Robert Palmer writes about the importance of following illicit money, how difficult it can be to do so, and how the new FATF rules can make a difference.
February 17th, 2012
The Financial Action Task Force, the global standard-setter in the fight against money laundering and terrorist financing, has revised the Recommendations after more than two years of efforts by member countries. The Recommendations are used by more than 180 governments to combat these crimes. The revisions, made with inputs from governments, the private sector, and civil society, provide authorities with a stronger framework toact against criminals and address new threats to the international financial system.
The cost of money laundering and underlying serious crime is very large, estimated between 2 and 5% of global GDP. The revision will...