ABSTRACT
Let us try to understand money laundering a bit more. Of course, to do so effectively, we also have to factor in the notion of terrorist financing. As criminal acts, these variables, together, form the basis of the work of the FATF and have found a prominent place in national legal and financial regulatory frameworks. To therefore discuss one and not the other will hardly paint the holistic picture required to assess the extent to which they negatively impact international financial services markets. However, while the outright consequences of the latter might be more easily understood, we are still not quite clear about what makes the laundering of money such a threat. Moreover, why is systematic attention to its prevention and control considered necessary by countries the world over?
