Combating Money Laundering and Terrorist Financing
A Model of Best Practice for the Financial Sector, the Professions and other Designated Businesses

The Commonwealth has been in the forefront of international efforts to combat money laundering and terrorist financing, particularly through supporting its developing member countries to implement comprehensive Anti-Money Laundering (AML) and Combating Financing of Terrorism (CFT) systems that comply with global standards.
The first edition of this book was published in 2005, and this second edition now includes additional information on understanding how terrorism is financed. The book incorporates both the international standard arising from the revised Financial Action Task Force on Money Laundering 40 Recommendations and the Special Nine Recommendations.
The manual will be of great use to policy-makers, regulators, financial institutions, the professions and other designated businesses in their efforts to develop viable AML/CFT systems.
The publication is divided into three main parts: the first deals with global issues, the second with national issues and in particular, national strategy formulation; and the third with financial and professional sector procedures.
The first edition of this book was published in 2005, and this second edition now includes additional information on understanding how terrorism is financed. The book incorporates both the international standard arising from the revised Financial Action Task Force on Money Laundering 40 Recommendations and the Special Nine Recommendations.
The manual will be of great use to policy-makers, regulators, financial institutions, the professions and other designated businesses in their efforts to develop viable AML/CFT systems.
The publication is divided into three main parts: the first deals with global issues, the second with national issues and in particular, national strategy formulation; and the third with financial and professional sector procedures.
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Establishing International and Regional Co-operation
Money laundering is an international problem, often carried out by international crime syndicates, and effective measures to tackle it require international co-operation – no one country or agency can succeed alone. This co-operation is necessary at a number of levels, and between a number of different agencies. The objective is to beat the criminals by applying the same basic standards inter - nationally. Countries that delay in taking effective action risk opening the door to organised crime.
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