Prioritizing the fight against dirty money: FATF-INTERPOL Roundtable Engagement
Channel: INTERPOL
Date: 2022-09-13

The Financial Action Task Force (FATF) and INTERPOL have launched a joint initiative to deprive criminals of their dirty money, marking a turning point in global efforts to recover illicit assets.

While asset recovery should be a key pillar of a country’s approach to combating money laundering and terrorist financing, countries intercept and recover less than one per cent of global illicit financial flows, according to estimates by the United Nations Office on Drugs and Crime. Stolen assets are often moved out of countries quickly and channeled to or through multiple countries, rendering the process of asset recovery complex and requiring lengthy international cooperation.

The first ever FATF-INTERPOL Roundtable Engagement (FIRE) event gathered 150 high-level experts who highlighted the pressing need to:
- promote national policies and actions that prioritize the tracing, seizure and confiscation of criminal assets;
- enhance operational cooperation at the national, regional and international levels;
- increase effective information sharing among public authorities and with the private sector.

More: https://www.interpol.int/News-and-Events/News/2022/FATF-and-INTERPOL-intensify-global-asset-recovery