FATF, terrorist financing, money laundering review launched
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Washington: (JTN) FATF

Ministers and officials of 37 member countries of the Financial

Action Task Force (FATF) discussed measures to combat money

laundering and terrorist financing in Washington, according to

media reports. The meeting will decide on the strategic direction for

the next review of the performance of the countries on the FATF

watch list. And the money laundering activities are being monitored.

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The talks are part of the spring meetings of the International

Monetary Fund (IMF) and the World Bank Group’s Board of

Governors, which are held annually in Washington. Prior to the

meeting, the FATF released a report stating that most countries have

enacted laws and regulations to combat money laundering and

terrorist financing, but that there are major challenges to their

effective implementation.

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Challenges include difficulties in investigating and prosecuting high-

profile cases across the border and preventing anonymous shell

companies and trusts from being used for illegal purposes. The FATF

said this The review will make its future assessments more timely,

risk-focused and effective.

 

 

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