Anti-Money Laundering (AML)

Worldwide efforts to combat money laundering and the financing of terrorism have assumed heightened importance in recent years.

They are global problems that not only threaten security, but also compromise the stability, transparency and efficiency of financial systems, thus undermining economic prosperity.

The global drive to curb money-laundering calls for a cooperative approach among many different international bodies. Efforts to establish an international standard response against money laundering have been led by the Financial Action Task Force on Money Laundering (FATF) and through the development of the FATF 40 Recommendations, which serve as the international framework for AML efforts.