The Financial Action Task Force leads renewed global effort to counter terrorist financing

932

December 14 2015

In the light of recent terrorist atrocities the Financial Action Task Force (FATF) today concluded three days of meetings, focussed on combatting the financing of ISIL, their affiliates, and other terrorist groups.

Since 2001, FATF has taken a vigorous approach to ensuring that members have systems in place to combat terrorist financing. In light of the unprecedented threats posed by ISIL, FATF members decided to focus and accelerate our efforts.

The FATF will adapt its strategy in order to better understand and reflect the changing nature of the terrorist financing risks, including by strengthening the existing measures, and enhancing operational information sharing to help counter these risks:

Understanding the impact of recent action against ISIL

Improving the exchange of information

Strengthening the international standards and their implementation