Chapter 14 The Impact of Weak AML/CFT Frameworks on Financial Stability
Author:
ZENÓN ALBERTO BIAGOSCH
Search for other papers by ZENÓN ALBERTO BIAGOSCH in
Current site
Google Scholar Close
Language:
English
Print Publication Date:
06 Nov 2008
Keywords:
SEM; central bank; certificate; fund; securities account; payment system; market stability; securities intermediary; TA activity; Securities; Hedge funds; Deposit insurance; Financial sector stability; Anti-money laundering and combating the financing of terrorism (AML/CFT); Global; Europe; North America; Sub-Saharan Africa; Central Asia; Western Europe; banking supervisor; Latin American country; supervisory scheme; country's financial system; Money laundering; Terrorism financing

Abstract

Strong frameworks for anti-money laundering (AML) and combating financing of terrorism (CFT) can have a powerful influence on preserving a nation’s financial stability. On the other hand, countries with weak AML/CFT regimes are subject to the negative effects that large international criminal organizations can have on their economic growth and financial stability. Thus the strengthening of AML/CFT systems is a subject of vital importance to individual nations and the international community.

Within Same Series

Other IMF Content

Other Publishers Content

  • Collapse
  • Expand
Cover Current Developments in Monetary and Financial Law, Vol. 5
Current Developments in Monetary and Financial Law, Vol. 5
ISBN:
9781589067738
Publication Date:
06 Nov 2008
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781589067738.072
Pages:
668
Front Matter
I. Legal Developments in the IMF
II. Central Bank Law
III. Financial Stability : Overview
IV. Rationale for Regulation of Derivatives and Hedge Funds
V. Financial Disclosure, Liability of Supervisors, and Legal Risk in Financial Markets
VI. Anti-Money Laundering—Terrorist Financing and Financial Stability
VII. Governance, Deposit Insurance, and Market Discipline
VIII. Payments, Settlement, and Securities Infrastructure