FATF and Anti-Terror Financing Mechanisms
The global fight against terror financing is anchored in the Financial Action Task Force, which sets international standards for Anti-Money Laundering/Countering Financing of Terrorism (AML/CFT). Its monitoring and compliance framework is central to disciplining state behaviour and disrupting terror networks.
Monitoring and Compliance Mechanisms
- 40 Recommendations Framework: The FATF prescribes comprehensive standards covering customer due diligence (CDD), beneficial ownership, suspicious transaction reports, and asset freezing.
- Mutual Evaluation Process (MEP): Periodic peer reviews assess technical compliance and effectiveness of national AML/CFT regimes.
- Grey/Black Listing: “Jurisdictions under Increased Monitoring (Grey List)” and “High-Risk (Black List)” create economic and reputational pressure to comply. ....
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