Streamlining Recommendations, Stemming Trade-Based Crime a Concern for FATF This Year, Says Organization Head

Few of the organizations combating money laundering and terrorist financing have been as influential as the Paris-based Financial Action Task Force, an arm of the Organisation for Economic Co-operation and Development. The intergovernmental group has written the global standards that have been broadly adopted to fight laundering and has rebuked the jurisdictions who have been slow to get in line with the larger international community. A good or bad word from the task force and banks will change who they do business with and how. Antonio Gustavo Rodrigues, FATF's newly elected president, believes the next year will be an important...