IMF launches fund to fight Money Laundering
A donor-supported fund will be launched by the International Monetary Fund (IMF) in order to fight money laundering and terrorist financing.
According to the IMF statement, the Multi-Donor Trust Fund will be the 1st in a series of so-called Topical Trust Funds. It will start operations on May 1, 2009.
The fund will provide about USD 31 million in over 5 years to contribute to the strengthening of global anti-money laundering and combating of terrorist financing of regimes. The Fund’s proven expertise and infrastructure will be used to reach this goal.
The IMF announced that about 2/3 of the financing will be provided by Switzerland, Norway, Japan, France, Saudi Arabia, UK, Luxembourg, and Korea.