UK Call for FATF ‘Reform’ Likely to Focus on Enforcement, Say Former U.S. Officials

By Matt Squire

The Financial Action Task Force should take a more aggressive stance against non-cooperative governments, according to a report released by the United Kingdom's Home Office. The paper, which outlined proposals on how the UK could better combat organized crime, said that the department would lobby for "reform" of the intergovernmental organization, known as FATF. As part of that effort, the office will introduce a plan to evaluate FATF's efficacy, and "push for a more activist approach" against problematic jurisdictions, the department said. The report, released on Monday, did not specify what changes would be lobbied for, and calls to the...