Global Witness: FATF lets countries off the hook

We've long criticised the Financial Action Task Force for being ineffectual, and effectively legitimising the illegitimate. Now Global Witness have an important new press release out, which begins:

"An international financial crime watchdog has named and shamed countries that are failing to stop dirty money entering the financial system, a move welcomed by Global Witness. However, conspicuously absent are major financial centres and secrecy jurisdictions, many of which also have serious weaknesses in their anti-money laundering regulations."

If you want evidence of this, look no further than Global Witness' own research - Undue Diligence: How banks do business with corrupt regimes; as well as the latest US Senate Report on keeping foreign dirty money out.