Al-qaeda and International Financial Institutions
Posted by intlrel on April 18, 2008
After the terrorist attacks on 9/11, the Financial Action Task Force on Money Laundering (FATF) expanded its mission to include combating the financing of terrorism and adopted eight special recommendations on terrorist financing which have been recognized by the International Monetary Fund (IMF) and the World Bank as the appropriate international standard. FAFT also developed the FAFT 40 Recommendations for dealing with money laundering and terrorist financing. The World Bank and the IMF have established a collaborative framework with the FATF for conducting comprehensive AML/CFT assessments of countries’ compliance with the FATF Recommendations.
