Money laundering and terrorist financing

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Page 359

On November 12, the IMF's Executive Board explored ways to intensify efforts to combat money laundering and the financing of terrorism. Directors stressed that the IMF has a key role to play as part of international efforts "to prevent the abuse of financial systems and to protect and enhance the integrity of the international financial system." They said the IMF's primary efforts should be in assessing compliance with financial supervisory principles and providing corresponding technical assistance. They also confirmed that it would be inappropriate for the IMF to become involved in law enforcement issues.

Directors further agreed that a key element in this battle would be more effective information sharing and cooperation among national authorities and international...

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