Measuring Qatar’s compliance with international standards on money laundering and countering the financing of terrorism

Author:Jon Truby
Position:Qatar University, Doha, Qatar
Pages:264-277
SUMMARY

Purpose Under scrutiny in light of the growing threat of international terrorism, Qatar faces pressure and accusations that it is not doing enough to counter terror financing and clamp down money laundering. The issue is not that Qatar is avoiding positive action, but that by the time measures are implemented, they become outdated because the international community has by then tightened... (see full summary)

 
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Measuring Qatar’s compliance
with international standards on
money laundering and countering
the nancing of terrorism
Jon Truby
Qatar University, Doha, Qatar
Abstract
Purpose Under scrutiny in light of the growing threat of international terrorism, Qatar faces
pressure and accusations that it is not doing enough to counter terror nancing and clamp down money
laundering. The issue is not that Qatar is avoiding positive action, but that by the time measures are
implemented, they become outdated because the international community has by then tightened its
regulatory requirements. Qatar’s slow pace has led to a case of cat-and-mouse chase with respect to
updating its standards, with a revised set of rules being required by the time Qatar implements the last
set of international standards. This study aims to draw on lessons from the past to help Qatar avoid
ndings of it falling below international standards in the upcoming 2017 mutual evaluation.
Design/methodology/approach – The primary purpose of this article is to catalogue Qatar’s efforts
to comply with international anti-money laundering (AML) and anti-terror nance standards. It
demonstrates the real legislative progress post-2008 recorded by Qatar to minimize money laundering
and terrorist nancing. The paper also contests the view that Qatari law is insufcient.
Findings – The paper explains Qatar’s efforts to comply with the recommendations made by each
evaluation by the Financial Action Task Force (FATF). It also highlights the potential for Qatar to be
caught out again by the evolution of international expectations in an upcoming review, which, it is
understood, is likely to take place in 2017.
Originality/value – No article exists specically on this research eld. As Qatar prepares for its 2017
FATF evaluation, it should be reminded of the need to comply with all new standards.
Keywords Qatar, FATF, Money laundering, Combating money laundering, Terror nance,
Terrorist nance
Paper type Research paper
1. Introduction and Methodology
Under scrutiny in light of the growing threat of international terrorism, Qatar faces
pressure and accusations that it is not doing enough to counter terror nancing and
clamp down money laundering[1]. Some have even accused elements within Qatar of
funding terrorism[2], forcing the country’s Emir to publicly deny such allegations in his
rst-ever televised interview[3]. Such allegations are not only politically damaging, but
may also hinder mutually benecial opportunities for foreign investment (Kratsas and
Truby, 2015).
Despite such assertions, the State of Qatar has gone to signicant lengths to amend
its laws and comply with international regulations. From being a founding member of
MENAFATF (the Middle East and North Africa Financial Action Task Force), to
forming the Qatar Financial Information Unit, to amending and implementing national
The current issue and full text archive of this journal is available on Emerald Insight at:
www.emeraldinsight.com/1368-5201.htm
JMLC
19,3
264
Journalof Money Laundering
Control
Vol.19 No. 3, 2016
pp.264-277
©Emerald Group Publishing Limited
1368-5201
DOI 10.1108/JMLC-04-2015-0011

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