The FATF in the Global Financial Architecture: Challenges and Implications
CASS Working Papers on Economics & National Affairs, EC001UC (2019)
21 Pages Posted: 2 Apr 2019 Last revised: 25 Jun 2019
Date Written: March 14, 2019
The Financial Action Task Force (FATF) was formed in 1989 as part of an effort to toughen anti-money laundering and terrorist financing practices around the world. This working paper presents the audience with a critical background of the FATF, along with important critiques of its structure and approach. This allows for a close examination of the implications that the FATF might portend for potentially non-compliant jurisdictions, and how they must navigate the political dynamics of the task force whilst adhering to better financial oversight and management of their own accord so as to strengthen the global financial architecture and combat money laundering practices.
Keywords: Terrorism, Financial Action Task Force, APG, FATF, Money Laudering, Pakistan, Radicalism
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