Deterring Abuse of the Financial System: Elements of an Emerging International Integrity Standard

March 1, 2005

Disclaimer: This Policy Dicussion Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

Assessing financial systems' stability has required the IMF to dig deeper into financial sector issues and to include financial integrity elements in its assessments. Integrity elements are increasingly being addressed by international standards. More progress is needed, however, to prepare a comprehensive framework to prevent the abuse of the financial systems by both outsiders and insiders.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Corporate governance, Crime, Economic sectors, Internal controls, Money laundering, Revenue administration

Keywords: abuse, anti-money laundering, Anti-money laundering and combating the financing of terrorism (AML/CFT), anti-money laundering apparatus, CFT, CFT standard, combating the financing of terrorism, Corporate governance, FATF recommendation, Financial integrity, firm, IAIS standard, Internal controls, Money laundering, offense, PDP, standard, standards assessment

Pages:
18
Volume:
2005
DOI:
https://doi.org/10.5089/9781451975581.003
Issue:
003
Series:
Policy Discussion Paper No. 2005/003
Stock No:
PPIEA2005003
ISBN:
9781451975581
ISSN:
1564-5193

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