Financial Action Task Force and International factoring: Difference between pages

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''Anti money laundering''.
A variation of factoring, where the buyer is situated in a different country from the seller.


(FATF).  
Due to the international character of the debt, two factors are often involved, one in the buyer's country (Import factor) and one in the seller's country (Export factor). The two factors establish a contractual relationship to service the buyer and the seller.  This is called the Two-Factor System.


An inter-governmental body whose purpose is the development and promotion of policies - both at national and international levels - to combat money laundering and terrorist financing.


 
==See also==
The FATF issued a number of recommendations - the 40 Recommendations and nine Special Recommendations on Terrorist financing - which form the basis of most countries’ anti money laundering legislation. 
* [[Factoring]]
 
* [[Factors]]
The original Recommendations were subsequently updated and consolidated, to form the International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation.
* [[Correspondent factor]]
 
* [[Export factoring]]
 
May also known by its French name, Groupe d'action financière (GAFI).
 
 
== See also ==
* [[Financial Intelligence Units]]
* [[Money laundering]]
* [[Standardised corporate environment]]
 
[[Category:Context_of_treasury]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:Compliance_and_audit]]

Revision as of 13:51, 20 April 2016

A variation of factoring, where the buyer is situated in a different country from the seller.

Due to the international character of the debt, two factors are often involved, one in the buyer's country (Import factor) and one in the seller's country (Export factor). The two factors establish a contractual relationship to service the buyer and the seller. This is called the Two-Factor System.


See also

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