IMF Underlines Importance of Effective Anti-Money Laundering Policies Amid Global Threats

The International Monetary Fund (IMF) emphasizes the importance of robust anti-money laundering (AML) and combating the financing of terrorism (CFT) policies in safeguarding the integrity and stability of the global financial system.

Threats Posed by Money Laundering and Terrorist Financing

• Money laundering (ML), terrorist financing (TF), and related ‘predicate offenses’ or ‘predicate crimes’ pose significant threats to financial sectors and external stability.
• These crimes can result in:
  • Destabilizing ‘hot money’
  • Banking crises
  • Ineffective revenue collection
  • Broader governance weaknesses
  • Reputational risks for international financial centers
  • Loss of correspondent banking relationships (CBRs)

Global Consequences of Money Laundering and Terrorist Financing

In today’s increasingly interconnected world, these crimes carry global repercussions that undermine the foundations of trust and stability in international financial markets.

IMF’s Emphasis on AML/CFT Policies and Measures

The IMF is committed to supporting member countries in enhancing their AML/CFT frameworks to better address the evolving risks and promote financial integrity. Effective AML/CFT frameworks and collaborative efforts among:

• Member countries
• International organizations
• The private sector

are crucial in tackling these persistent challenges.

Threats in the Global Economic Landscape

With increasing interdependence and the escalating use of sophisticated techniques, effective AML/CFT frameworks are vital in the face of:

• Organized crime
• Terrorism
• Proliferation financing

persisting threats in the global economic landscape.