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Planned Revamp of IMF Assessments the ‘Right Move,’ Say Examiners
By Colby Adams
printProposed changes to an intergovernmental group's money-laundering and terrorist-financing risk assessments are necessary and long overdue, say analysts and examiners. The International Monetary Fund, which alongside the World Bank and the Financial Action Task Force, or FATF, develops programs designed to address the member nations' vulnerabilities to money laundering and terrorist financing, said in a June 27 report that it was revamping its examination process to address inefficiencies and budget concerns. Instead of comprehensively assessing all countries regardless of their previous level of compliance with global standards, the IMF should consider adopting a targeted and "risk-focused" approach centered on the...
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