The Global Fight Against Cyber-Enabled Fraud

Illicit financial flows from cyber-enabled fraud are a big problem, but we’re not just talking about a little bit of money here and there. We’re talking about billions of dollars being siphoned off through fraudulent online activities. It’s a global issue, and it affects countries all over the world, including Argentina, Australia, Austria, Belgium, Brazil, Canada, China, Denmark, Finland, France, Germany, Greece, Hong Kong, China, Iceland, India, Indonesia, Ireland, Israel, Italy, Japan, Korea, Luxembourg, Malaysia, Mexico, Netherlands, New Zealand, Norway, Portugal, Russian Federation, Saudi Arabia, Singapore, South Africa, Spain, Sweden, Switzerland, Türkiye, United Kingdom, United States, and more. The Financial Action Task Force (FATF) is working hard to combat this problem, and they have member countries and global networks dedicated to fighting illicit financial flows. They’re keeping an eye on high-risk and monitored jurisdictions, and they’re publishing reports, guidance, and statements to address this issue. It’s a tough battle, but the FATF is determined to make a difference.