Launch of FATF TREIN to contribute in ending war against terrorist financing and money laundering

Financial Action Task Force(FATF)’s first academic research institute opened in Busan on September 20. FATF Training and Research Institute(TREIN) will educate and train FATF member countries to better fulfil their duties of preventing money laundering, combating finance of terrorism, and eradicating proliferation financing.

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Kevin Stephenson, former secretary general of Egmont Group, global Financial Intelligence Unit union, was appointed as the first chairman of FATF TREIN.

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FSC Chairman Yim Jong-yong at the opening ceremony emphasized that the launch of FATF TREIN is an extremely meaningful event at a time when education and training in the respective field is much required. He also expressed his expectation that the FATF TREIN will become a milestone in the global war against terrorist financing.

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