Money Laundering Methods Worry Experts in Afghanistan Amid Rising Concerns

The Financial Action Task Force (FATF) has sounded a warning about the growing risk of money laundering and terrorist financing in Afghanistan, prompting concerns among experts about the country’s ability to stem the tide.

Growing Risk of Money Laundering and Terrorist Financing

Citing recent United Nations Security Council Resolutions, including UNSCR 2593 (2021), which demands that Afghan territory not be used to support terrorism or finance terrorist activities, the FATF has called on all jurisdictions to take immediate action to mitigate emerging risks.

Urgent Action Required

The international anti-money laundering and counter-terrorist financing body is urging countries to:

• Provide advice and facilitate information sharing with their private sectors to assess and address any new threats
• Ensure that non-profit organizations (NPOs) and humanitarian actors operate freely and without hindrance, while warning that these groups must not be exploited by terrorists

FATF Recommendations

To achieve this goal, the FATF is urging competent authorities to:

• Conduct sustained outreach efforts with NPOs, consistent with its recommendations
• Respect human rights and fundamental freedoms
• Monitor the situation in Afghanistan closely, working with other bodies such as:
  • Asia/Pacific Group on Money Laundering (APG)
  • Eastern and Southern Africa Anti-Money Laundering Group (EAG)
  • Global Network

Promoting Security, Safety, and Financial Integrity Worldwide

The FATF will consider all options for promoting security, safety, and financial integrity worldwide. The organization’s efforts aim to prevent the misuse of Afghan territory and ensure that the country’s financial system remains secure and stable.