The announced review of the UK’s anti-money laundering and counter-terrorist finance regime under the Cutting Red Tape programme sends mixed policy messages at a sensitive time. The focus on increasing supervisory effectiveness is the right one, but must be delicately balanced with the need to strengthen the UK’s illicit finance defences.
Organised crime, rather than terrorism, is the greatest threat to elephants and other species in East Africa. Our primary focus should be on the organised crime groups and corrupt actors known to drive the vast ivory trade across the region.
International anti-money laundering and counter-terrorism finance (AML/CTF) standards are largely governed by the Financial Action Task Force (FATF). FATF’s strength rests on its ability to demonstrate that its efforts are advancing global AML/CTF. But is FATF free from challenges to its own existence?