FATF issues Report on Terrorist Financing

On February 29, 2008, the Financial Action Task Force (FATF) issued Terrorist Financing Report.

This document is the study that examines the means terrorists use to raise funds and the wide range of methods they use to move money within a criminal organisation or between organisations. According to the FATF, “the adaptability and opportunism shown by terrorist organisations suggests that all the methods that exist to move money around the globe are to some extent at risk”.

The study covers and describes such problems as the terrorist requirement for funds, raising terrorist funds, moving terrorist funds, international response to terrorist financing, and policy implications.

The study identifies 4 areas to focus efforts on in order to strengthen counter-terrorist financing activities. These are addressing jurisdictional issues, outreaching to the private sector, building a better understanding across bith public and private sectors, as well as enhancing financial intelligence to use financial investigations for fighting terrorist financing.

The document was published on the FATF website on March 14, 2008.

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