Money laundering and terrorist financing: the role of capital market regulators

Abstract

Outlines the special recommendations of the October 2001 meeting on terrorist financing, which complement the 40 Recommendations of the Financial Action Task Force (FATF), and the resulting FATF plan of action; they included ratification and implementation of UN instruments, criminalising the financing of terrorism and associated money laundering, freezing and confiscating terrorist assets, reporting suspicious transactions related to terrorism, international cooperation, alternative remittance systems, wire transfers, and non‐profit operations. Deals with the background problems: the vulnerability to money laundering in the securities and futures markets and businesses, concerns about anonymity and custodial accounts, the global anti‐money laundering guidelines for private banking issued in October 2000 by the ten major international private banks in Wolfsberg, and the responsibility of capital market regulators in the fight against money laundering and terrorism.

Citation

Jayasuriya, D. (2002), "Money laundering and terrorist financing: the role of capital market regulators", Journal of Financial Crime, Vol. 10 No. 1, pp. 30-36. https://doi.org/10.1108/13590790310808574