FATF Guidance – Private Sector Information Sharing

214

November 3 2017

Money laundering, terrorist financing and other forms of financial crime do not stop at national borders but can have links to several countries and financial institutions.  To put a stop to it, it is crucial that information concerning financial activity with possible links to crime and terrorism is shared in a timely and effective manner between and with both public and private sector.  The importance of such constructive and timely exchange of information is reflected across a number of FATF Recommendations and Immediate Outcomes.  

Information sharing can allow financial institutions, supervisory and law authorities to make better use of available resources and exploit new technologies and business models to develop innovative techniques to tackle money laundering and terrorist financing.