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UN FATCI interim report on stopping money laundering


The United Nations’ High-Level Panel on International “Financial Accountability, Transparency and Integrity” (FACTI) panel was created in response to the fact that Kleptocracy, tax-dodging and epidemic financial crime. And FACTI wants to try to come up with some ideas to turn this problem around.

The FATCI 2030 agenda was an agreement signed five years ago to make things better for everyone by the end of this decade.

FATCI won’t publish its full report until next year, but this interim document gives us some ideas of its thinking.

Its summary is worth a read as It calls for more international recognition of the harm that dirty money does, agreement on what needs to be done, the quicker return of stolen money to its real owners, and the involvement of civil society organizations in work.

The report states.

  • “Illicit transactions contribute to public distrust and political discontent. Governments are less able to invest in public goods and sustainable development, thus also undermining their ability to respect, protect and fulfil human rights. The resource drain also threatens equity, fairness and justice,”