FATF RECOMMENDATIONS
June 1st, 2003
BY KEITH NUTHALLTHE FINANCIAL Action Task Force (FATF), of the OECD (Organisation for Economic Cooperation and Development), has significantly toughened its 40 Recommendations on fighting money laundering that countries must comply with to avoid being blacklisted by the FATF. The changes are particularly significant, given that the OECD body has now teamed up with the World Bank and the International Monetary Fund in its efforts to fight the international flow of dirty money; a blacklisting could henceforth cost erring countries in grants and loans. Additions to ...
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