COVID-19-Related Money Laundering and Terrorist Financing
This paper is informed by open-source research, and information received from member countries of the FATF and FATF-style regional bodies (FSRBs) and observer organisations such as the International Monetary Fund (IMF), World Bank and United Nations. It was developed in response to the unprecedented and rapidly evolving COVID-19 public health crisis. The findings contained within are likely to evolve as this crisis further develops.
The focus of this paper relates to three broad themes:
- New threats and vulnerabilities stemming from COVID-19-related crime and impacts on ML and TF risks.
- Current impact on AML/CFT efforts by governments and the private sector due to COVID-19.
- Suggested AML/CFT policy responses to support the swift and effective implementation of measures to respond to COVID-19, while managing new risks and vulnerabilities identified, including: charitable activity and economic and fiscal stimulus and financial rescue packages for firms and individuals.