The Financial Action Task Force (FATF), the inter-governmental body whose purpose is the development and promotion of national and international policies to combat money laundering, the financing of terrorism and proliferation of weapons of mass destruction, recently announced recommendations designed specifically to tackle tax evasion.
The proposals would see tax evasion becoming an offence that could lead to money laundering charges meaning that authorities would have a new and powerful weapon in fight against individuals and corporations attempting to dodge their financial obligations, disperse the proceeds of crime or fund further illegal activities. Whilst FATF recommendations themselves are not binding on member governments, FATF is an extremely influential organisation in the anti-corruption world and its recommendations have been implemented by many governments in the recent past. Click here to read more about the work of FATF.
