GLOBAL AML/CFT REGIME’S EFFECTIVENESS IN DOUBT AS ITS 30TH BIRTHDAY APPROACHES
May 1st, 2019
This July is the 30th anniversary of the Financial Action Task Force (FATF), which developed its 40 recommendations on anti-money laundering (AML) and nine special recommendations on combating the financing of terrorism (CFT) – but the jury is still out on whether the AML/CFT system it has created is really working. Today, with tens of billions of dollars having spent by financial institutions on compliance, how effective have FATF-inspired policies been in curbing financial crime and confiscations? Some experts say they could do a lot better.
Since AML and ...
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