FATF, EU prepare for busy 2004
The Financial Action Task Force (FATF), an international anti-money laundering body, is preparing to publish a document designed to help regulators and supervisors implement the organisation’s 40 Recommendations for anti-money laundering (AML) and Eight special recommendations for counterterrorist financing (CTF). The document is called the AML/CTF Methodology.
The document will update the previous draft, completed in October 2002, in light of the revisions that the FATF made to its 40 Recommendations in June 2003, says Carlson. The original document was completed in conjunction with the
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