FATF Mandate Renewed for 8 More Years

On May 14, 2004, the Financial Action Task Force held a Ministerial meeting on the margins of the OECD Ministerial Council Meeting. Its 33 members reaffirmed their commitment to its mandate to combat money laundering and terrorist financing for an additional eight years. The ministers commended FATF for its achievements since its start in 1989. The FATF pledged to enhance its focus on informal and non-traditional methods of financing terrorism and money laundering, including through cash couriers, alternative remittance systems, and the abuse of non-profit organizations...[more]