FATF Issues Annual Report on Money Laundering Typologies

On February 12, 1998, the Financial Action Task Force (FATF) on Money Laundering issued its 1997-98 report on money laundering typologies. The purpose of the exercise was to provide a forum for law enforcement and regulation experts to discuss recent trends in the laundering of criminal proceeds and emerging threats and effective countermeasures. The report focuses primarily on areas that still have to be tackled, such as new methods of payment, but also on the non-financial professional activities that constituted the central subject of the 1997-98 exercise and the issue of laundering through fund transfer companies. The report also deals with the laundering situation in the regions of the world where FATF has few or no members... [more]