BusinessCompany NewsFATF winning war on terror financing

FATF winning war on terror financing

The OECD-aligned Financial Action Task Force says countries throughout the world are united in ensuring terrorists do not gain access to the international financial system.

At a meeting of FATF members in Hong Kong today, Claire Lo, president of the FATF, called on member countries to implement the Eight Special Recommendations, agreed to in October 2001, aimed at denying terrorists and their supporters access to the international financial system.

The international body also announced the completion of the first phase of its assessing its own members performance in complying with the recommendations.

These were introduced after the body announced it was expanding its anti-money laundering drive to include an effort to fight terrorist finances.

Attended by almost 60 members of the FATF as well as 10 international bodies, it was stressed that all countries, not just member states, implement the eight recommendations.

The FATF called on all jurisdictions in the world to undergo a self-assessment exercise against the Eight Special Recommendations on the same terms as FATF members.

The entire assessment will be published by June 2002, the deadline for FATF members to comply with the special recommendations.

Related Articles

M&S business rate liabilities based on £570m rateable value

Company News M&S business rate liabilities based on £570m rateable value

4m Emma Smith, Managing Editor
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

8m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

1y Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

1y Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

1y Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

1y Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

1y Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

1y Emma Smith, Managing Editor