By Sean Hagan and Jody Myers
The international community has made the fight against money laundering and terrorist financing a priority. The IMF is especially concerned about the possible consequences of money laundering and the financing of terrorism on our members’ economies and on international financial stability.
The IMF’s Legal Department has the lead on the Fund’s work in combating money laundering and the financing of terrorism, and our work includes assessments of countries’ compliance with the international standard on anti-money laundering and combating the financing of terrorism (AML/CFT), technical assistance, research, and policy development.
Investors in pyramid scheme company VEFA speak to official in Tirana, Albania, in 1998 (photo: AFP)
Building on the results of our recent work on the risks from money laundering and the macroeconomic impacts of money laundering and predicate crime, we are seeking to integrate AML/CFT more fully into the Fund’s surveillance and Financial Sector Assessment Programs (FSAPs).
Filed under: Economic Crisis, Financial regulation, Global Governance, IMF, International Monetary Fund, Multilateral Cooperation | Tagged: compliance, corruption, crime, governance, money laundering, pyramid schemes, surveillance, tax evasion, terrorist financing, transparency, underground economy | 3 Comments »
