Days before breach, APG report flagged Facebook use in money laundering, terror funding

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October 2 2018

The recent security breach that affected 50 million Facebook accounts came days after a report by Asia Pacific Group (APG) flagged the use of the social networking website in activities linked to money laundering and terrorist financing.

APG is an inter-governmental authority set up in 1997. At present, it has 41 members out of which 11 are also members of the Financial Action Task Force (FATF), including Australia, India, China, Hong Kong and Japan, among others.