TBML now a mechanism for terrorist funding

Counter finance of terrorism (CFT) is often considered as a sub group of anti-money laundering (AML) regulation, especially in banking and financial risk assessment systems. This poses a number of challenges because, as many researchers and industry specialists keep pointing out, the two areas are not necessarily that closely aligned. It isn’t the only challenge that banks have to face when considering their risk assessment systems; just as money-laundering schemes are always evolving and adapting to the existing regulations, so too regulations are constantly being updated and redesigned. This is often done in an attempt to respond to the latest intelligence reports and case studies of changing money-laundering patterns. Although this may be viewed as a positive response in crime prevention circles and amongst law enforcement agencies, it poses its own set of difficulties for those trying to amend and update risk assessment processes in financial institutions.