The financial action task force (FATF) thirty years after: the future of the international fight against money laundering and the financing of terrorism
DOI:
https://doi.org/10.17561/rej.n20.a18Keywords:
Financial Action Task Force, money laundering, financing of terrorismAbstract
The Financial Action Task Force (FATF) constitutes a successful example of a normative process that goes beyond traditional sources and enforcement mechanisms of public international law and, at the same time, ensures high level of compliance and timely adaptation to challenges related to the fight against money laundering and terrorist financing (AML / CFT). On FATF's 30th anniversary, it is worth re-examining the characteristics of its norm-building model, in particular FATF’s legal nature, its expansiveness and its flexibility. Such a review is important given the significant challenges posed by the evolving nature of money laundering and of terrorist financing.
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