This panel discussion by RUSI’s Centre for Financial Crime & Security Studies reflected on the announcement of the Financial Action Task Force's strategic review.
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Over the past 30 years the Financial Action Task Force has undoubtedly raised financial crime compliance standards around the world amongst governments and their private sectors.
Their decennial reviews challenge countries and trigger feverish policy developments in countries as the assessment date approaches.
The outcomes of these evaluations are made public - a poor review may impact the risk appetite of the global financial services industry and effect a country’s access to international financial markets.
Yet despite the FATF’s influence and impact, money laundering remains a present (and growing) issue. Financial crime scandals are rarely far from the newspaper front pages.
To its credit, the FATF realises that a review of its own effectiveness (not just the effectiveness of its members) is needed and under the new Chinese Presidency has undertaken to conduct a strategic review with the aim of strengthening ‘the efficiency and the effectiveness of FATF and make the FATF’s country assessments and monitoring processes more timely, effective and risk-based.’
This panel discussion at RUSI brought together experts, critics and boosters, to consider the implications of FATF’s planned strategic review and contribute some ideas to this process.
- Panel Chair: Isabella Chase, Research Analyst, RUSI Centre for Financial Crime & Security Studies
- Matthew Redhead, Associate Fellow, RUSI Centre for Financial Crime & Security Studies
- Richard Chalmers, AML Consultant and Former Co-Chair of FATF Evaluation and Compliance Group
- David Lewis, Executive Secretary, Financial Action Task Force
- Giles Thomson, Deputy Director, Sanctions and Illicit Finance Team HM Treasury
- Professor Jackie Harvey, Professor of Financial Management and Director of Business Research, Newcastle Business School, Northumbria University
This event is by invitation only. If you're interested in this event please contact ZivileK@rusi.org.
Tea/coffee will be served from 1630. The event will run from 1700 and will finish by 1830.