The Re-organization of the FATF as an International Legal Person and the Promises and Limits to Accountability

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

The Financial Action Task Force (FAFT) is the foremost global standard setting body on matters of money laundering and terrorism financing. It is an informal expert body overseen by a network of finance ministers of the G20 and about 17 other larger economies of the world. The FATF in its July 2017 plenary meeting decided to explore ways of transforming itself into a formal international organization. International institutional law discourse, particularly in connection with a previous similar move of re-organization of the Organization for Security and Cooperation in Europe (OSCE), seems to propose that transformation into legal personhood is a good news for the accountability of those institutions. This chapter challenges this understanding by analyzing the specific circumstances of the FATF through international relations scholarship. The chapter shows specific institutional dynamics under which international legal personality could both enhance and curtail accountability.
Original languageEnglish
Title of host publicationTechnocracy and the Law
Subtitle of host publicationAccountability, Governance and Expertise
EditorsAlessandra Arcuri, Florin Coman-Kund
PublisherRoutledge
Publication statusSubmitted - 2020

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