Title: Financial Action Task Force on Money Laundering

Source/Sponsoring Agency: Financial Action Task Force

URL: http://www1.oecd.org/fatf/

Date Checked: 9/8/2003      Status: Active

Date Annotated: 9/8/2003

Topics: Banking Law; Commercial Law; Criminal Law; Foreign Law; International Law

Other keywords: Terrorism

Contents: The Financial Action Task Force on Money Laundering (FATF) was established in 1989 by the G-7 Summit held in Paris. The FATF was originally formed from G-7 member states, the European Commission, and eight additional countries. Today there are thirty-three members and multiple observer bodies and organizations. The purpose of FATF is “the development and promotion of policies, both at national and international levels, to combat money laundering and terrorist financing.” On its web site, the FATF provides significant content. This content includes educational items explaining money laundering and what governments can do about it. FATF’s Forty Recommendations for fighting money laundering are featured. There is a section of PDF documents and other material devoted specifically to terrorist financing. Other original FATF documents include annual reports, reviews of non-cooperative countries and territories, and reports on money laundering trends. Useful for legal researchers are the individual country pages listing key money laundering legislation. Some of these are under construction; however, significant content is already posted. Considering the abundance of textual content on the site, it is relatively clear and easy to navigate with each component linked from the left side. The site is available in both English and French.

Author of Annotation: M. Morrison