FATF faces credibility gap, no evidence its work reduces proceeds of crime – think-tank discussion

"We have to be honest about the level of scepticism, primarily in financial services, about the reality of what the [FATF] standards do. It's a lot of money, a lot of manpower, and we ask, 'What is the result?'" said Matthew Redhead, associate fellow, RUSI Centre for Financial Crime and Security Studies."It's incumbent on FATF to show that what it's doing works, or FATF faces a credibility gap," Redhead said.