#3 FATF: Fighting Financial Crime or Fueling Illusions?
Loading player...
In this thought-provoking episode, financial integrity expert Dawn Pretorius and Professor Louis de Koker delve into the complex world of the Financial Action Task Force (FATF); its origins, effectiveness, and the unintended consequences of its global standards.
Established in 1989 by the G7 to combat money laundering and terrorist financing, FATF now influences global financial regulations. But has it lived up to its mission? Dawn and Lois unpack the nuances behind the numbers, the realities of implementation, and the costs — both financial and social.
Established in 1989 by the G7 to combat money laundering and terrorist financing, FATF now influences global financial regulations. But has it lived up to its mission? Dawn and Lois unpack the nuances behind the numbers, the realities of implementation, and the costs — both financial and social.
Chapters
- 00:00 Introduction to FATIF and its Global Impact
- 03:04 Assessing FATIF's Impact on Money Laundering
- 07:13 The Rise of Scams and the Role of Technology
- 09:31 Effectiveness of FATIF Standards: Illusion vs. Reality
- 11:58 FATIF as a Geopolitical Tool
- 14:56 Selective Enforcement and Double Standards
- 18:21 FATIF Compliance and Financial Inclusion
- 22:56 Challenges with the Risk-Based Approach
- 27:55 Financial Surveillance vs. Crime Prevention
- 30:00 The Future of FATIF and the Role of Professionals
