The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions. Its mandate is to set standards and to promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and the financing of proliferation, and other related threats to the integrity of the international financial system. In collaboration with other international stakeholders, it also works to identify national-level vulnerabilities with the aim of protecting the international financial system from misuse. FATF recently released a new document, entitled “International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation”.

While most of the recommendations in the document were directed at financial institutions, I found several of them to converge over and into the area of anti-corruption. Further, several of the recommendations will be of high value to companies in evaluating or enhancing their own compliance programs. They include some of the following recommendations which I have adapted for anti-corruption and anti-bribery compliance programs.