FATF plans more action against money laundering
Leaders of the Financial Action Task Force, the international body responsible for fighting money laundering, plan a more aggressive strategy
From the end of this year, the effectiveness with which countries and individual institutions are implementing and using their anti-money laundering (AML) and counterterrorist financing (CTF) systems will come under much tighter scrutiny. This is the consequence of a sharp change in procedures by the Financial Action Task Force (FATF). The intergovernmental AML agency will no longer simply check the state of countries' laws and rule books when they assess their compliance with AML and CTF
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