FATF faces growing pains
The Financial Action Task Force is looking uncomfortably stretched in its fifteenth year. It’s facing up to many new responsibilities while still grappling with many of the same problems it was set up to tackle in 1989. By John Rumsey
The Financial Action Task Force’s (FATF) difficulties are easy to enunciate. The staff of the inter-governmental task force, originally established to combat money laundering and terrorist financing, has been doubled to 10 but still looks thin on the ground. Its mandate keeps being expanded, and there has been little progress on fundamental issues such as measuring money laundering and terrorist
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