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Money Laundering

Key Issues and Possible Action

image of Money Laundering

This paper aims to draw attention to the key issues in combating money laundering and possible action that could be taken on a coordinated basis. It suggests measures to strengthen the financial sector, considers practical issues involved in combating money laundering in international financial centres and the problems of economic crime and tackling money laundering in the parallel economy. It concludes with a series of action steps which were subsequently presented to and adopted by Commonwealth Finance Ministers and Heads of Government as the basis for concrete action by Commonwealth countries.

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The Scope of Action to Combat Money Laundering

Commonwealth Heads of Government agreed to tackle the laundering of the proceeds of all types of serious crime. There is however no universal definition of “serious crime”.

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