FATF President's Paper: Anti-money laundering and counter terrorist financing for judges and prosecutors

The work of judges, prosecutors and other investigative authorities is crucial for stable institutions, transparency and the rule of law, which are all pillars of an effective anti-money laundering (AML) and countering the financing of terrorism (CFT) system.

Under the Argentine Presidency (2017-2018) the FATF initiated a global outreach programme to the criminal justice systems, given the crucial role it plays in the effective implementation of the FATF Recommendations. The objective of the outreach programme was to reinforce the effectiveness in the investigation and prosecution of money laundering and terrorist financing, and in the recovery of the proceeds of crime.

The paper identifies the challenges that judges and prosecutors face in investigating and prosecuting money laundering and terrorist financing, and in recovering the proceeds of crime. It highlights useful elements and best practices in the conduct of investigations, prosecutions, convictions and confiscation.  Given the transnational nature of many criminal networks, the paper also highlights the need for international cooperation.

The FATF, in a joint effort with the FATF-style regional bodies, and other international organisations, gathered knowledge about experiences, challenges and best practices from over 400 judges and prosecutors from around the world.

This outreach programme, an initiative by FATF President Santiago Otamendi (2017-2018), reinvigorated and refocussed FATF’s attention on the criminal justice system, which is a fundamental underpinning to all national and international efforts to combat money laundering and terrorist financing.