What's Happening?
The Financial Action Task Force (FATF), organized by the G7, sets international standards for anti-money laundering, countering terrorism financing, and countering proliferation financing. The U.S. Treasury leads the U.S. delegation to FATF, working with interagency partners to develop positions and implement standards domestically. Recent efforts include regulating virtual currency providers and enhancing terrorist financing prosecutions.
Why It's Important?
The U.S. Treasury's active role in FATF underscores its commitment to global financial transparency and security. By participating in FATF, the U.S. helps shape international policies that prevent financial crimes, ensuring a secure financial environment. These efforts protect the U.S. economy and contribute to global stability by addressing emerging threats and adapting to new financial technologies.
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