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International call for global approach to fraud

Header call by FATF, INTERPOL, and UNODC for global response to fraud.

Summary

International organisations FATF, INTERPOL and UNODC are calling on countries to take action against money laundering and terrorist financing.

13/05/2025

At a meeting in Vienna, leaders of the Financial Action Task Force (FATF), INTERPOL and the UN Office on Drugs and Crime (UNODC) called on countries to take urgent action against the huge illicit profits generated by drug trafficking, human trafficking, migrant smuggling and fraud. The message: behind every laundered dollar is a victim - a destroyed family, a lost life, a damaged community.

 

Urgent need for better international cooperation

The three organisations called on governments to improve their asset recovery efforts to deprive criminal and terrorist groups of the means to expand their activities. International cooperation, they said, is crucial to make financial investigations more effective and targeted.

However, the FATF, the global watchdog for combating illicit finance, finds that almost 80% of countries are still not sufficiently effective in recovering criminal funds. That is why international standards for asset recovery have been tightened.

 

“Criminals do not confine themselves within national borders, so we need to ensure that our borders do not provide opportunities for criminals to hide money and frustrate our pursuit of them,” said FATF President Elisa de Anda Madrazo. 

 

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