Financial Action Task Force Grapples with Combatting the Financing of ISIL and Other Terrorist Groups

On December 14, 2015, the Financial Action Task Force (FATF), after concluding three days of meetings, discussed its efforts to combat the financing of ISIL, their affiliates, and other terrorist groups. In addition, the Egmont Group, an informal international network of financial intelligence units (FIUs), is also contemplating initiatives to strengthen sharing financial intelligence.  The FATF has also released a report to the G20 on actions it is taking against terrorist financing.