Reference Guide to Anti-Money Laundering and Combating the Financing of Terrorism

By P. Schott. 2006

111 citations recorded by the source corpus.

Money laundering and terrorist financing are global problems. For developed and developing countries alike, these activities compromise the stability, transparency and efficiency of financial systems. Thus, these activities merit the complete attention of all countries. Moreover, the events of September 11, 2001, have heightened the international concern. World Bank and International Monetary Fund (IMF) developed this unique reference guide to Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) in an effort to provide practical steps for countries implementing an AML/CFT regime in accordance with international standard. The guide describes the global problem of money laundering and terrorist financing on the development agenda of individual countries and across regions. It explains the basic elements required to build an effective AML/CFT legal and institutional framework and summarizes the role of the World Bank and the IMF in fighting money laundering and terrorist financing. The primary objective of this joint bank-fund project is to ensure that the information contained in the reference guide is useful and easily accessible by developing countries that are working to establish and strengthen their policies against money laundering and the financing of terrorism. Additionally, this guide is intended to contribute to global understanding of the devastating consequences of money laundering and terrorist financing on development growth, and political stability and to expand the international dialogue on crafting practical solutions to implement effective AML/CFT regimes.

Subfields: Sociology and Political Science

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