Global terror financing watchdog – FATF has said that G20 nations must start leading by example and act now to stop money laundering.
Financial Action Task Force president Marcus Pleyer said, financial systems of many countries are exposed to money laundering, terrorist financing and proliferation financing.
He said, even though G20 publicly calls for the full implementation of Financial Action Task Force standards around the globe, not all G20 members have taken effective action to make a real difference.
In an article titled ‘Lead by Example’, the FATF president said, failing to take action means organised criminals will indulge in trafficking people, drugs, arms and wildlife, and corrupt stakeholders and terrorists will operate with impunity.
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