Afghanistan’s Financial Inclusion Raises Concerns Over Money Laundering and Terrorist Financing Risks

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The Financial Action Task Force (FATF), a global standard-setting body for anti-money laundering and counter-terrorist financing, has expressed deep concern over the evolving money laundering and terrorist financing risk environment in Afghanistan. This development comes on the heels of recent UN Security Council Resolutions demanding that Afghan territory not be used to threaten or attack any country, shelter or train terrorists, or plan or finance terrorist acts.

FATF’s Concerns

• The FATF urges all jurisdictions’ competent authorities to provide advice and facilitate information sharing with their private sectors to assess and mitigate emerging money laundering and terrorist financing risks.
• The global body emphasizes the importance of a risk-based approach in addressing these threats.

Protecting Non-Profit Organizations (NPOs) and Humanitarian Actors

• The FATF reiterates the critical need for NPOs and all humanitarian actors to provide vital assistance without delay or disruption.
• It calls on jurisdictions to protect NPOs from being misused for terrorist financing purposes.
• To achieve this, competent authorities must conduct sustained and targeted outreach efforts while respecting human rights and fundamental freedoms.

FATF’s Monitoring Efforts

• As the situation in Afghanistan continues to unfold, the FATF will closely monitor changes to money laundering and terrorist financing risks alongside its partners APG, EAG, and the Global Network.
• The global body is prepared to consider all options that promote security, safety, and the integrity of the global financial system.