AntiMoney

Antimoney is a term occasionally used to describe policies and practices aimed at preventing the illicit flow of funds and reducing the use of money to finance crime, corruption, or terrorism. It is not a formal term in international law; more common references are anti-money laundering (AML) and countering the financing of terrorism (CFT).

Scope and mechanisms: Antimoney-oriented frameworks rely on regulatory requirements that financial institutions implement customer due diligence, ongoing monitoring, suspicious activity reporting, and record-keeping. AML/CFT regimes seek to detect, deter, and sanction money laundering through transaction screening, sanctions compliance, and cooperation among authorities. They also emphasize transparency measures such as beneficial ownership to reveal who ultimately controls or benefits from legal entities.

Standards and institutions: The Financial Action Task Force (FATF) issues recommendations that influence national laws and enforcement. National financial intelligence units, central banks, and securities regulators are responsible for supervising compliance, while law enforcement agencies pursue investigations. International cooperation, information sharing, and cross-border assistance are core components of the framework.

Technology and challenges: The growth of digital payments, fintech, and crypto assets presents AML/CFT challenges, including anonymity, rapid transfers, and jurisdictional gaps. Privacy concerns and the cost of compliance are ongoing trade-offs. Evolving technologies require regular updates to standards and vigilant enforcement to remain effective.

Relation to policy: Antimoney efforts intersect with anti-corruption, tax enforcement, and economic sanctions. Their effectiveness depends on consistent implementation, robust supervisory regimes, and international cooperation to close gaps across borders.

See also: anti-money laundering, countering the financing of terrorism, Financial Action Task Force, beneficial ownership.