Regulating money laundering for terrorism financing: EU-US transnational policy networks and the financial action task force

Publication Date: 
09 July 2015
Appearing in: 
Contemporary Politics
Volume: 
21
Issue: 
3 Special Issue: The European Union’s Engagement with Transnational Policy Networks
Pages: 
341-353
Abstract: 

Through increased cooperation transatlantic policy networks have been able to sharpen the tools used to combat the laundering of funds used for illicit ends including terrorism finance. After the attacks on 11 September 2001, rules were adopted on both sides of the Atlantic to restrict the flow of funds for terrorist purposes. This article captures some of the recent trends in cooperation between the European Union (EU) and the USA in addressing the issue of money laundering for terrorism finance. It goes further to assess how the EU engages with the financial action task force whose mandate was modified after 11 September 2001 to also cater for money that is laundered to fund terrorist activities.