Financial Action Task Force

Financial Action Task Force (FATF)   Academic Research on Financial Action Task Force Special recommendations on terrorist financing, Force, F. A. T. (2001). Retrieved May,23, 2005. The international anti-money-laundering regime: The role of thefinancial action task force, Alexander, K. (2001). Journal of Money Laundering Control,4(3), 231-248. This paper analyses the international regime of rules, principles and standards designed to reduce the risk of money laundering in the international financial system. The paper analyses the role of the Financial Action Task Force (FATF) in developing international financial norms on financial institutions of all kinds. It also focuses on the reason behind the development of these norms and why they are placed particularly on financial institutions.   Money laundering: has thefinancial action task forcemade a difference?, Johnson, J., & Desmond Lim, Y. C. (2003). This paper examines the involvement of the banking sector in money laundering over the last two decades, in particular the relationship between banks and money laundering when governments attitudes vary and change. It also describes the design of the research, which uses multiple regression, Chow and dummy variable correlation, and partial correlation to compare countries before and after membership of the Financial Action Task Force (FATF). The nine countries in this analysis are also listed in the paper. The study wishes to show that FATF does make a difference.     Thefinancial action task force: A study in balancing sovereignty with equality in global administrative law, Wessel, J. (2006). Widener L. Rev.,13, 169.   An introduction to thefinancial action task forceand its 2008 lawyer guidance, Terry, L. S. (2010). J. Prof. Law., 3. Repairing legitimacy after blacklisting by theFinancial Action Task Force, Johnson, J. (2004).Journal of Money Laundering Control,7(1), 38-49. This paper describes how the Financial Action Task Force (FATF) has blacklisted countries which it believes provide laws and practices conducive to money laundering. It shows how countries react to this challenge and regain legitimacy, and lists the countries concerned according to how quickly they were removed from the blacklist. It concludes that the countries which responded quickest to blacklisting were the wealthiest ones with large service and financial sectors. TheFinancial Action Task Force, Damais, A. (2007). Anti-Money Laundering: International Law and Practice, 69. Fast spinning into oblivion? Recent developments in money-laundering policies and offshorefinancecentres, Hampton, M. P., & Levi, M. (1999).Third World Quarterly,20(3), 645-656. This article examines the growth of money-laundering in conjunction with the associated development of offshore finance centres (OFCs) located in small places such as islands or microstates in the Caribbean and elsewhere. The article also explores the changing way ‘offshore’ is being constructed as exemplified by rising onshore pressure from the OECD, G7, the EU and, most recently, the UK government. Designated non-financialbusinesses and professionals: A review and analysis of recentfinancial action task forceon money laundering mutual evaluation reports, Choo, K. K. R. (2014). Security Journal,27(1), 1-26. This paper explores the new government interest in fighting financial crimes, and the use of non-financial businesses in carrying out this process. It provides a review by the FATF for 15 jurisdictions on financial conducts to show the complaint nature of each area. The article shows that despite the stiff penalty melted out by the FATF, there are in fact, some areas which have strong compliance issues till date. Is the globalfinancialsystem AML/CFT prepared?, Johnson, J. (2008). Journal of Financial Crime,15(1), 7-21. This paper aims to gauge the extent to which the global financial system is antimoney laundering (AML)/countering the financing of terrorism (CFT) prepared by analysing and comparing the AML/CFT systems of Financial Action Task Force (FATF) members with countries belonging to regional AML organisations. In this paper, mutual evaluation data of 16 FATF members and 21 nonFATF countries are analysed and compared using KruskalWallis and pairedt tests to determine similarities and differences across the two groups of countries. In pursuit of dirty money: identifying weaknesses in the globalfinancialsystem, Johnson, J. (2001). Journal of Money Laundering Control,5(2), 122-132. This paper analyses the high rates of reports of businesses suspected to be involved in money laundering. The paper explores how the Financial Action Task Force (FATF) handles these cases, and provides a detailed analysis of these cases. The paper also shows how the legislation could affect the rate of money laundering cases both positively and negatively. The paper also provides a list of unregulated countries, and countries that provide avenues for money laundering.