Iceland : Report on the Observance of Standards and Codes: FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

Author/Editor:

International Monetary Fund

Publication Date:

July 26, 2007

Electronic Access:

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Summary:

This paper examines Iceland’s Observance of Standards and Codes on the Financial Action Task Force Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism. Iceland’s legal requirements in place to combat money laundering and terrorist financing are generally comprehensive. The penalties for money laundering appear low, and the number of money laundering prosecutions and convictions has decreased. The terrorist financing offence is generally broad, although it does not fully cover the financing of acts listed in the Terrorist Financing Convention.

Series:

Country Report No. 07/254

Subject:

English

Publication Date:

July 26, 2007

ISBN/ISSN:

9781451819342/1934-7685

Stock No:

1ISLEA2007001

Price:

$18.00

Format:

Paper

Pages:

27

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