FATF Global Money Laundering & Terrorist Financing Threat Assessment, 2010
A view of how and why criminals and terrorists abuse finances, the effect of this abuse and the steps to mitigate these threats
Article posted on 05 Feb 2012
Summary: This document presents a global overview of the systemic money laundering and terrorist financing threats and ultimate harms that they can cause. Combating ML/TF requires an ongoing understanding of the methods used by criminals to launder their illicit funds and terrorists to fuel terrorism. These methods range from well-known practices established over many years to modern techniques that exploit innovations in global payment networks and continuous advances in technology.
Topics: FATF Money Laundering OECD Terrorism Terrorist Financing
Member Comments
Eduardo Morgan, 09 Sep 2010 15:34
The FATF should refer to FINCEN studies on drug money laundering. The bulk of the many billions of dollars (according to different sources, estimated between 60 to 600 hundred billions) of drug traffic are not exported on cash but in products from the market countries to the production and intermediary countries. It is interesting the reference from FINCEN to the COLOMBIAN BLACK MARKET PESO EXCHANGE. Also the enormous amount of exports from Florida to Colombia and Ciudad del Este, also known as the three frontiers city and the reports of Mexican Cartel's investment in the US economy. . It is also worth for FATF to study the surplus cash that the Federal Reserve banks of Florida, Texas, and other states send every year to the Federal Reserve System. Here is where the bulk of illicit money should be.
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