Catalog

	Table of Contents
p. 7 of 13 BACK | NEXT Background *Legal Regime Requirements *Financial System Requirements *The Establishment of an FIU *Trade Based Money Laundering *International Cooperation Combatting Terrorist Financing ADB Policy on AML/CFT Knowledge-Based Materials and References Training Materials Precedent Documents DMC Materials Cooperation Fund

Anti-Money Laundering Toolkit

---

Combating Terrorist Financing

At an extraordinary Plenary on the Financing of Terrorism held in Washington, D.C. on 29 and 30 October 2001, the Financial Action Task Force (FATF) expanded its mission beyond money laundering and agreed to issue new international standards to combat terrorist financing, which it calls on all countries to adopt and implement. Implementing these standards will deny terrorists and their supporters access to the international financial system. The agreement on the Special Recommendations commits members to, among others, criminilize the financing of terrorism, terrorist acts and terrorist organizations; freeze and confiscate terrorist assets; report suspicious transactions linked to terrorism; and provide the widest possible range of assistance to other countries' law enforcement and regulatory authorities for terrorist financing investigations. The counter measures also call on member countries to impose anti-money laundering requirements on alternative remittance systems, strengthen customer identification measures in international and domestic wire transfers and ensure that entities, in particular non-profit organizations, cannot be misused to finance terrorism.

Back International Cooperation	Next ADB Policy on AML/CFT