Combating Financing of Terrorism (CFT)
Efforts and measures to block financial support for terrorist activities.
Detailed Description
Combating Financing of Terrorism (CFT)
What does CFT stand for?
CFT stands for Combating Financing of Terrorism.
Why is CFT important?
CFT is important because it helps protect national and international security by preventing the financing of terrorism.
What is the role of the Financial Action Task Force (FATF) in CFT?
The FATF sets global standards and provides recommendations for combating money laundering and terrorist financing.
How do CFT and AML differ?
CFT specifically targets the financial support of terrorism, while AML focuses on preventing money laundering.
What are some challenges in implementing CFT?
Challenges include varying levels of commitment among countries, rapid technological changes, and the rise of cryptocurrencies.