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NCJ Number: 200886 Find in a Library
Title: Financial Action Task Force on Money Laundering: The Forty Recommendations
Corporate Author: Organization for Economic Cooperation and Development
Publications and Information Ctr
United States of America
Date Published: 2003
Page Count: 25
Sponsoring Agency: Organization for Economic Cooperation and Development
Washington, DC 20006
Sale Source: Organization for Economic Cooperation and Development
Publications and Information Ctr
1750 Pennsylvania Avenue NW
Suite 1207
Washington, DC 20006
United States of America
Document: PDF
Type: Legislation/Policy Description
Format: Document (Online)
Language: English
Country: United States of America
Annotation: This document sets out Forty Recommendations by the Financial Action Task Force (FATF) for combating money laundering and terrorist financing.
Abstract: In 1990, FATF drew up the original Forty Recommendations as an initiative to combat money laundering by the illegal drug trade. The recommendations were revised in 1996 to reflect the evolving money laundering methods and techniques. The Forty Recommendations have now been further revised to combat increasingly sophisticated money laundering techniques and terrorist financing operations. FATF urges all countries to implement the recommendations in their national systems in order to effectively combat money laundering and terrorist financing. The recommendations are written in general terms so that countries may easily adapt them to fit within the framework of their unique criminal justice and financial systems. The document explains that one of the key elements of the fight against money laundering and terrorist financing is the continual monitoring and evaluation of international standards. Generally, the recommendations fall under the domains of legal systems and financial systems. Recommendations on international cooperation are also provided, which include mutual legal assistance and extradition. A glossary is included for terminology and interpretative notes further explain the Forty Recommendations.
Main Term(s): Money laundering; Supporters of terrorism
Index Term(s): Financial institutions; International cooperation; Legal system
Note: Downloaded June 23, 2003.
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