G-20 leaders reaffirm full support for FATF’s efforts to combat money laundering, terrorist financing
The Hindu
In the Rome Declaration, the G-20 nations confirmed their support for strengthening the FATF recommendations to improve beneficial ownership transparency and called on countries to fight money laundering from environmental crime, particularly by acting on the findings of the watchdog’s report.
G-20 leaders, including Prime Minister Narendra Modi, have reaffirmed their full support for the Financial Action Task Force and recognised that effective implementation of the measures put in place to combat money laundering, terrorist financing and proliferation is essential for building confidence in financial markets, ensuring a sustainable recovery and protecting the integrity of the international financial system.
In the Rome Declaration issued on Sunday, the G20 leaders stressed the relevance of the risk-based approach of the global anti-money laundering and Paris-based terror financing watchdog’s recommendations with the aim to ensure legitimate cross-border payments and to promote financial inclusion.
“We reaffirm our full support for the Financial Action Task Force (FATF) and the Global Network and recognise that effective implementation of Anti-Money Laundering/Countering the Financing of Terrorism and Proliferation (AML/CFT/CPF) measures is essential for building confidence in financial markets, ensuring a sustainable recovery and protecting the integrity of the international financial system,” the declaration stated.
