What's new at the FATF?

The Financial Action Task Force (FATF) has issued a report on Money Laundering and Terrorist Financing Vulnerabilities of Commercial Websites and Internet Payment Systems. The report focuses on the type of electronic commerce identified as the most vulnerable to money laundering and terrorist financing: mediated customer-to-customer. These sites allow private individuals to sell to one another via an online marketplace. The report provides a number of case studies illustrating how such sites can be exploited for money laundering / terrorist financing purposes. (Read the current issue of FATF e-news for more information on FATF activities.)