Safeguarding financial system: Ministers to renew FATF Mandate

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Safeguarding financial system: Ministers to renew FATF Mandate By TII News Service Apr 18, 2012 , Paris
MINISTERS from Financial Action Task Force (FATF) member countries will meet in Washington DC on Friday to extend the FATF mandate for another 8 years, continuing to safeguard the integrity of the international financial system. The FATF Ministerial Meeting will take place in the margins of the 2012 IMF / World Bank Spring Meetings. It follows on the recent publication of the revised FATF 40 Recommendations, the international standard for combating money laundering and the financing of terrorism and weapons of mass destruction. The renewed mandate will allow the FATF – through its global network of 187 partner countries – to ensure that all are doing their part to make the international financial system off-limits to criminals, terrorists and others threats to financial stability.

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