The Financial Action Task Force (FATF) will meet in Plenary Session on October 11-13, to discuss the methods criminals and terrorists are using to launder money and the measures authorities can take to stop them.
The Plenary will discuss the issue of non-cooperative countries and territories and receive reports on money laundering techniques such as the misuse of corporate vehicles and new payment methods (e.g., stored value cards). It is anticipated that these reports will be released at the close of the meeting, as will be an outline of the findings and conclusions of the Plenary discussions.
The FATF is an inter-governmental body created in 1989 for the *”development and promotion of national and international policies to combat money laundering and terrorist financing”.* As a “policy-making body”, the organisation works to generate the necessary political will to bring about legislative and regulatory reforms in these areas.
The FATF has published 40 + 9 Recommendations in order to meet its objectives.