THE FINANCIAL ACTION TASK FORCE ON MONEY LAUNDERING REPORTS ON CURRENT LAUNDERING TRENDS….
The Financial Action Task Force on Money Laundering (FATF) will meet in Paris 31 January-2 February, to discuss current money laundering methods and new developments in its review of the non-cooperative countries and territories.
Mr. José Mariá Roldán, President of the FATF and Director General of the Bank of Spain, Mr. Lars Oftedal Broch, Supreme Court judge in Norway and Mr. Patrick Moulette, Executive Secretary of the FATF, will hold a news conference at 4 p.m. on Thursday 1 February 2001 at OECD Headquarters to present the FATF’s latest report on international methods of money laundering.
The report outlines current trends and emerging threats such as: on-line banking and internet casinos; the use of trusts, other non-corporate vehicles to launder money; lawyers, notaries, accountants and other professionals; the role of cash vs. other payment methods in money laundering schemes; and terrorist-related money laundering.
The FATF will also report on progress made by the 15 countries or territories identified as non-cooperative in June 2000.
The FATF is an independent international body whose Secretariat is housed at the OECD. The twenty nine member countries and governments of the FATF are: Argentina; Australia; Austria; Belgium; Brazil; Canada; Denmark; Finland; France; Germany; Greece; Hong Kong, China; Iceland; Ireland; Italy; Japan; Luxembourg; Mexico; the Kingdom of the Netherlands; New Zealand; Norway; Portugal; Singapore; Spain; Sweden; Switzerland; Turkey; United Kingdom and the United States.
Two internationalanisations are also members of the FATF: the European Commission and the Gulf Co-operation Council.
FATF/OECD News Release
Paris, 24 January 2001