Chapter 15 Elements of an Effective AML/CFT Framework: Legal, Regulatory, and Best Institutional Practices to Prevent Threats to Financial Stability and Integrity
Author:
IAN CARRINGTON
Search for other papers by IAN CARRINGTON 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

Abstract

In 1989 the G-7 Summit established the Financial Action Task Force (FATF). The original mission of the FATF was to study the problem of money laundering by criminal organizations and to propose measures for standardizing anti-money laundering (AML) regimes. The FATF’s first recommendations were issued in 1990, then updated in 1996 and again in 2003. In 2001 the FATF took on the added task of recommending measures for combating the financing of terrorism (CFT).

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