By Christine Lagarde
July 26, 2017
Versions in ربي (Arabic), 中文 (Chinese), Français (French), Русский (Russian), and Español (Spanish)
Money laundering and terrorist financing threaten economic stability. International cooperation is vital in the fight against misuse of the financial system (photo: CraigRJD/iStock by Getty Images)
Corrupt officials, tax cheats, and the financial backers of terrorism have one thing in common: they often exploit vulnerabilities in financial systems to facilitate their crimes.
Money laundering and terrorist financing can threaten a country’s economic and financial stability while funding violent and illegal acts. That is why many governments have stepped up the fight against such practices, helped by international institutions such as the IMF.