UK joins FATF in meeting on terror
The UK is to participate in an emergency meeting of the Financial Action Task Force in a bid to develop an international strategy for dealing with the financing of terrorism.
FATF, based with the Organisation for Economic Cooperation and Development in Paris, will meet in Washington between Monday and Wednesday next week, its 29 member states hoping to contribute to the growing ‘war on terrorists’.
More usually the FATF develops strategies for dealing with money laundering and places pressure on many states to improve their regulatory procedures.
The emergency meeting follows action already instigated in the UK where chancellor Gordon Brown and home secretary David Blunkett have announced measures to be taken.
These include putting accountants at the heart of the battle by establishing a new terrorist finance unit to contain forensic accounting experts and work in conjunction with the National Criminal Intelligence Service.
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FATF to hold terror finance egm