Money Laundering: Reference Reports Update

Security and Legal departments of financial institutions and multinational organizations may want to take note of a couple of recent publications on the subject of money laundering. The International Monetary Fund just released a detailed assessment of Gibraltar Anti-Money Laundering (AMF) and Combating the Financing of Terrorism (CFT) efforts. The report lists not only the core aspects of these activities but some of their shortcomings and various recommendations of good reference value. Also, earlier this month, The U.S. Departments of Treasury, Justice, and Homeland Security issued the 2007 National Money Laundering Strategy, “a report detailing continued efforts to dismantle money laundering and terrorist financing networks and bring these criminals to justice.” Not be forgotten is the regularly-updated Specially Designated Individuals List maintained by the Office of Foreign Assets Control (OFAC) within the US Treasury.