Centro de Documentação da PJ
Analítico de Periódico
CD 341
Legitimacy of power exercised by FATF under international law [Recurso eletrónico] / Lovina E. Otudor, Mahmood Bagheri
Journal of Financial Crime, Vol. 31, n. 6 (2024), p. 1289-1301
Ficheiro de 177 KB em formato PDF.
GAFI, BRANQUEAMENTO DE CAPITAIS, DIREITO INTERNACIONAL
Purpose – This study aims to focus on the legal status of the Financial Action Task Force (FATF) regulatory spread in spite of its limited membership in international law. This is conducted by examining the regime of the FATF with the normative regime of public international law and trying to identify common grounds and conflicts between the two. Design/methodology/approach – This study adopted an exploratory approach involving a thorough examination and analysis of accredited text, command papers and reports, archival materials, national obligations, websites as well as other documentary evidence. Findings – This research gives an empirical determinant of compliance behaviour in response to FATF regulatory standards and the interplay of international law. Research limitations/implications – The findings here are not exhaustive and could be approached from other perspectives. Researchers are therefore encouraged to engage by testing the findings further, as this is only a blueprint for further research. Practical implications – This study provides implications for the need to open up the current membership of the FATF, as it appears discriminatory in nature and could inhibit effective compliance with its regulatory standards. Social implications – FATF regulatory standards do not just revolve around its members and rule-takers but also affect unintended and vulnerable people who were never in contemplation when these regulations were debated without a global consensus. Originality/value – The main aim of this study is to advocate for a rethink of FATF’s regulatory strategy by ensuring that its operations are more inclusive, where jurisdictions can participate as members, creating a sense of belonging and commitment in the fight against money laundering.
