Author： Holder William E.
Publisher： Emerald Group Publishing Ltd
ISSN： 1368-5201
Source： Journal of Money Laundering Control, Vol.6, Iss.4, 2003-10, pp. : 383-387
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Abstract
Traces how the role of the International Monetary Fund (IMF) in money laundering/combating terrorist financing has developed, its competence and the instruments it uses. Explores its interactions with the Financial Action Task Force (FATF), especially the quest for a ?comprehensive common methodology? with the FATF as standard bearer. Explains its surveillance function, which involves intensive exchange with each member country on its economic and financial system - for instance, whether is unsustainable external debt, and hazards of capital movements. Outlines three specific IMF initiatives: the Financial Sector Assessment Program, the Reports on Observance of Standards and Codes, and the Offshore Financial Center assessments. Concludes that the IMF?s involvement in anti-money laundering has been fast, intensive and important for its members.
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