Ownership Vs Control: FATF Targets Soft Power

The Financial Action Task Force (FATF) is an independent inter-governmental body established in 1989, that develops and promotes policies to protect the global financial system against money laundering, terrorist financing, and the financing of proliferation of weapons of mass destruction. [1] The huge significance of the FATF in the context of ownership and transparency is that when reference is made in transparency initiatives to “accepted international beneficial ownership standards” (or words to that effect), it is to FATF guidance. [2]

Anti-Money Laundering Laws Don…