STUART LEVEY of the Council on Foreign Relations and CHRISTY CLARK of the Podesta Group state that although UN implemented targeted financial sanctions had gained acceptance among governments and the private sector in disrupting illicit networks and pressuring intransigent regimes by making it far more difficult for them to access needed financial services, their enforcement continued to be lax outside the US.
They argue that the Financial Action Task Force (FATF) over its 20+ years of existence had successfully changed the international landscape on financial controls for combating money laundering and terrorist financing. in their op-ed for Foreign Policy, "Follow the Money", and call for FATF to develop and enforce standards for implementation of financial sanctions.
The FATF's published standards had incentivized countries to continually improve and gain FATF's seal of approval, or at least not warrant its disapproval.
They argue that the Financial Action Task Force (FATF) over its 20+ years of existence had successfully changed the international landscape on financial controls for combating money laundering and terrorist financing. in their op-ed for Foreign Policy, "Follow the Money", and call for FATF to develop and enforce standards for implementation of financial sanctions.
The FATF's published standards had incentivized countries to continually improve and gain FATF's seal of approval, or at least not warrant its disapproval.
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