Dialogue with the Private Sector
FATF Private Sector Consultative Forum, Vienna, 19-20 April 2016
Vienna, 20 April 2016 – The Financial Action Task Force (FATF) held its annual Private Sector Consultative Forum on 19-20 April 2016 in Vienna, Austria, hosted by the United Nations Office on Drugs and Crime (UNODC).
The private sector plays a crucial role in preventing the abuse of the financial system for money laundering or terrorist financing purposes. The private sector is the first line of defence in detecting and helping to prevent such activity, particularly through their implementation of customer due diligence and record keeping measures, and suspicious transaction reporting.