Financial Crime World

Terrorist Financing Risks in Afghanistan Pose Grave Concerns, Says FATF

The Financial Action Task Force (FATF) has sounded the alarm over the alarming state of money laundering and terrorist financing risks in Afghanistan. As the global standard-setting body for anti-money laundering and counter-terrorist financing, the FATF is deeply concerned about the evolving risk environment in the country.

Recent UN Security Council Resolutions

The organization’s latest statement comes on the heels of recent United Nations Security Council Resolutions (UNSCRs) that demand Afghan territory not be used to:

  • Threaten or attack other countries
  • Shelter or train terrorists
  • Plan and finance terrorist acts

Specifically, UNSCR 2593 (2021) emphasizes the need for all parties involved to prevent any such activities.

Urgent Call to Action

The FATF is urging all competent authorities worldwide to:

  • Share information on assessing and mitigating emerging money laundering and terrorist financing risks identified in Afghanistan
  • Provide advice to their private sectors on these risks, in accordance with the risk-based approach
  • Facilitate cooperation between governments and financial institutions to prevent illegal activities

Protecting Humanitarian Actors

Furthermore, the FATF reiterates its utmost importance of ensuring that non-profit organizations (NPOs) and humanitarian actors can provide vital assistance without delay or disruption. The organization is calling on all jurisdictions to:

  • Protect NPOs from being exploited for terrorist financing purposes
  • Conduct targeted outreach efforts while respecting human rights and fundamental freedoms

Joint Statement with APG, EAG, and Global Network

In a joint statement with the Asia-Pacific Group on Money Laundering (APG), the Eurasian Group (EAG), and the Global Network, the FATF has pledged to:

  • Closely monitor the situation in Afghanistan, including any changes to money laundering and terrorist financing risks
  • Consider all options to promote global security, safety, and financial integrity

The FATF is committed to working closely with international partners to address these grave concerns and prevent the misuse of Afghan territory for terrorist financing purposes.