Terrorist Cash Top FATF Priority

Secretary-General of the OECD
Combating terrorist financing is a top priority for the FATF “and we are calling upon all countries around the world to join us in this effort,” new Financial Action Task Force (FATF) president Jochen Sanio said to mark the anniversary of the 11 September attacks on the United States.
More than 100 jurisdictions have taken part in a self-assessment exercise to evaluate the effectiveness of their measures to combat terrorist financing and the FATF encourages all those who have not yet done so to complete the self-assessment questionnaire. The FATF has also created a working group to deal with issues related to terrorist financing, such as abuse of non-profit organisations and wire transfer systems.The FATF is holding a plenary meeting in Paris on 9-11 October to review progress by member and non-member states in adopting counter-terrorist financing measures in line with the FATF’s Eight Special Recommendations on Terrorist Financing, adopted in the wake of the 11 September events.Based on replies to the self-assessment questionnaire, it will identify countries thathave not taken the required measures for follow-up assessment and/or technical assistance by the International Monetary Fund (IMF), World Bank and United Nations. © OECD Observer No. 234, October 2002


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