The Financial Action Task Force (FATF), an intergovernmental body that seeks to ensure the effective combatting of money laundering and terrorism financing.
Countering terrorism financing has been increasingly important in the last few years, as more terrorist groups reach out across social media and other communication technologies to gain support, in this case funding.
Member states are able to participate in shaping global policy on the financing of terrorism. They are also under a responsibility to ensure compliance with FATF standards and follow FATF recommendations, else their membership may be revoked. Retaining membership in FATF signals to foreign investors that the country is a safe place to invest.
Of the states in the MENA and Sahel regions only a handful are a member of the FATF. Saudi Arabia became an observer in 2015, Israel gained observer status in 2016, and Turkey is a member. Nigeria has also been recommended for FATF membership, which would make them the second African State to gain membership – the first African state was South Africa.
Most in these regions are members of similar groups however, such as MENAFATF, GABAC, GIABA, ESAAMLG, and MONEYVAL.
This profile is part of AOAV’s investigation into counter-IED (C-IED) actors around the globe. To see the list of all C-IED actors recorded by AOAV, see here. To see those engaged in the Middle East, the Sahel, North Africa or other highly impacted countries please see here, here, here, and here respectively. This research was made possible by funding from the NATO Counter Improvised Explosive Devices Centre of Excellence (C-IED COE). To read the full report, ‘Addressing the threat posed by IEDs: National, Regional and Global Initiatives’, see here.
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