FATF, EU prepare for busy 2004
Brussels -- The Financial Action Task Force (FATF), an international anti-money laundering body, is preparing to publish a document designed to help regulators and supervisors implement the organisation’s 40 Recommendations for anti-money laundering (AML) and Eight special recommendations for counterterrorist financing (CTF). The document is called the AML/CTF Methodology.
The document "is not an analysis of current implementation practices, nor a set of suggestions," says John Carlson, principal administrator at the FATF in Paris. "Rather, it sets out the precise measures countries need to take to comply with the FATF recommendations."
The document will update the previous draft, completed in October 2002, in light of the revisions that the FATF made to its 40
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