Can FATF Challenge Trump's US Amid Money Laundering Concerns?
The Financial Action Task Force (FATF), led by new president Giles Thomson, faces a critical test in 2026 as it prepares to assess the United States' compliance with global money laundering regulations. The article argues that under Donald Trump’s administration, the US has significantly regressed in financial transparency, notably by undermining shell company disclosure laws, scaling back financial crime prosecutions, pardoning convicted offenders, and encouraging unregulated cryptocurrency activities. Historically, the FATF has been criticized for disproportionately penalizing smaller nations while overlooking transgressions by major economies like the US, UK, and Switzerland. However, Trump’s open disregard for international norms presents a unique dilemma: if the FATF criticizes the US, Trump may withdraw the country from the organization; if it remains silent, the FATF risks losing all credibility. The author contends that the FATF’s structure is fundamentally flawed and suggests a complete organizational overhaul is necessary to address these systemic biases and restore integrity to global anti-money laundering efforts.
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Can FATF Challenge Trump's US Amid Money Laundering Concerns?
The Financial Action Task Force (FATF), led by new president Giles Thomson, faces a critical test in 2026 as it prepares to assess the United States' compliance with global money laundering regulations. The article argues that under Donald Trump’s administration, the US has significantly regressed in financial transparency, notably by undermining shell company disclosure laws, scaling back financial crime prosecutions, pardoning convicted offenders, and encouraging unregulated cryptocurrency activities. Historically, the FATF has been criticized for disproportionately penalizing smaller nations while overlooking transgressions by major economies like the US, UK, and Switzerland. However, Trump’s open disregard for international norms presents a unique dilemma: if the FATF criticizes the US, Trump may withdraw the country from the organization; if it remains silent, the FATF risks losing all credibility. The author contends that the FATF’s structure is fundamentally flawed and suggests a complete organizational overhaul is necessary to address these systemic biases and restore integrity to global anti-money laundering efforts.
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