The Financial Action Task Force, a global anti-money laundering watchdog, has resolved to seek out greater input from the private sector in developing policies for the world's financial systems. The FATF, in a four-year mandate the group adopted Saturday during a meeting in Washington, D.C., said it will meet with financial institutions and other private businesses at trade group events and consultative forums as it develops policies to battle laundering and terrorist financing threats worldwide. Financial industry trade groups have said that the Paris-based FATF, which issued 49 recommendations for fighting money laundering and terrorist financing, employs a top-down policymaking...
The Financial Action Task Force, a global financial crime watchdog is set to release three reports highlighting the methods that money launderers and terrorists can employ to exploit trade and electronic commerce and facilitate weapons proliferation.
The Paris-based Financial Action Task Force (FATF) said Thursday that the global financial community should regard transactions involving Iran, Uzbekistan, Pakistan, Turkmenistan, Northern Cyprus and São Tomé and Príncipe as high risks for money laundering.
The Financial Action Task Force identified key elements of gauging geographic and other risks and of defining acceptable threat levels to aid governments and financial institutions adopting a risk-based approach to their anti-money laundering programs.