Ethics and governance in the European Financial centers

The UK Chancellor of the Exchequer chaired a meeting of FATF Ministers in Washington DC a few days ago.
The Ministers discussed the work of the FATF in the international fight against money laundering and terrorist financing. They also endorsed a revised mandate for the FATF, which determines its direction and priorities between 2008 and 2012. The new mandate:

- Deepens global surveillance of evolving criminal and terrorist threats identified by the FATF;
- Responds to new threats which affect the integrity of the financial system such as proliferation finance;
- Builds a stronger, practical and ongoing partnership with the private sector which is at the frontline of the global fight against money launderers and terrorist financiers; and
- Supports global efforts to raise standards, especially in low capacity countries.

Source : FATF website

FATF new mandate