On Friday, most of the world’s finance ministers renewed the mandate of the Financial Action Task Force, the international standard setter for anti-money laundering and terrorism finance protocols.
The renewal of the mandate, which took place at the spring meetings of the International Monetary Fund and the World Bank, was expected. Since FATF’s inception in 1989, more than 180 authorities have conformed to its standards.
But FATF wasn’t always an undisputed authority.
We sat down last week for a conversation about FATF with two of the U.S. Department of Treasury’s point men on the group: Daniel Glaser, assistant secretary for terrorist financing, and Chip Poncy, director of the office of strategic policy for terrorist financing and financial crimes. Glaser is the former head of the U.S. delegation to the FATF, and Poncy is the current head of the delegation.
Detailed interview link: here