DID YOU KNOW?
Due to the past decades of terrorism and money laundering activity, the global community formed the Financial Action Task Force (FATA). The recommendations from the FATA is what governs pretty much all global financial transactions and you might not even be aware of their existence.
These are the international standards on combating money laundering and the financing of terrorism and the proliferation of terrorism.
The recommendations include a vast array of financial situations and circumstances such as the following: money laundering offenses, financial institution secrecy laws, customer due diligence, record keeping, money or value transfer services, wire transfers, reporting of suspicious transactions, freezing and confiscation, and about every other scenario of financial movements.
The Financial Action Task Force (FATF) is an independent inter-governmental body that develops and promotes policies to protect the global financial system against money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction.
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The FATF Recommendations are recognized as the global anti-money laundering (AML) and counter-terrorist financing (CFT) standard.
The FATA was established in 1989 by the Ministers of its Member jurisdictions. The mandate of the FATF is to set standards and to promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and the financing of proliferation, and other related threats to the integrity of the international financial system.
In collaboration with other international stakeholders, the FATF also works to identify national-level vulnerabilities with the aim of protecting the international financial system from misuse.
Since countries have diverse legal, administrative and operational frameworks and different financial systems, they cannot all take identical measures to counter these threats.
Because of these circumstances the FATA can only make recommendations and it is up to the country to adapt these recommendations into their legal framework. But these are the standards by which our global financial system operates today.
If you have ever wondered where all the current regulatory functions for global finance came from, this is where they were birthed.
The original FATF 40 Recommendations were drawn up in 1990, and revised in 1996, 2001, and in 2003 were endorsed by over 180 counties. Understanding these “Recommendations”, which have become regulatory laws, is essential to how you properly structure your accounts, sponsor humanitarian projects, set up national and international companies, wire funds, and manipulate finances as a whole with accurate and required information so as not to have funds frozen or seized.
Countries have mandated that financial institutions include required and accurate originator information, and required beneficiary information, on wire transfers and related messages. Also, it is required that the information remains with the wire transfer or related message throughout the payment chain. The importance of providing the proper and accurate information at the onset is paramount to having your funds flow unrestricted.
The financial institutions will monitor wire transfers for the purpose of detecting those which lack required originator and/or beneficiary information, and take appropriate measures. In the context of processing wire transfers, financial institutions can take freezing action and can prohibit conducting transactions with designated persons and entities.
The ‘banksters’ and Cabal criminals take advantage of the FATA recommendations to work within the framework of the regulatory laws created off those recommendations.
They watch for any loophole violation to seize, delay or freeze your funds. The longer they can delay access to your funds, the more they can play with your money. It has been a never ending windfall for corrupt activity.
The two components, that are the lowest common denominator, for the GCR to occur have been how money is to be valued (Gold/Asset Backed) and how money is to be delivered into a global economic network (DLT-Data Ledger Technology and QFS).
Gold backing the money is self-explanatory. Delivering the money has to do with the message being delivered, IE: source of funds, type of funds and to whom or where the funds are going.
With the current message delivery system, the originator and/or beneficiary information is what has been inefficient and corruptible. The DLT compresses information which allows for more information to be delivered at a time, while the quantum technology (QFS) processes the information faster and more efficiently through a decentralized consensus.
Consensus meaning that the information being delivered has been analyzed and considered accurate, basically by a digital vote, and the transaction is allowed to process.
In order for the movement of funds to transact, once the proper technical mechanisms are in place, it still has to travel through the regulatory process, which is the FATF recommendations.
When we are made aware of, or witness terrorist actions, our minds focus on the horrendous action but the devastating ramifications escape our attention and sometimes our knowledge. The restrictions and regulatory activity that follow these terrorist and laundering activities effect everyone on the planet in some fashion. The flow and ease of legitimate financial activity is slowed or impaired.
More times than not, in dire situations where funds need to be expedited right away, these delays can have devastating effects. As in the case of natural disasters, humanitarian aid, corporate development to ease un-employment and poverty.
Closer to home, delays can cost you your mortgage payment, food in your refrigerator, transportation, a medical need or helping someone else who needs all the above.
We all must be aware of the depth of the criminal mind and their capacity to maneuver around established regulations and/or laws. We cannot assume it is as simple as “the bad guys deposit bad money in the bank, and they get caught”.
They invest in new technologies, sponsor humanitarian projects, create shell companies, and layer themselves through multiple organizations. The FATA recognizes these activities and makes its recommendations on how to spot, control and prosecute those involved.
The delays we have been witnessing for years can be mostly attributed to the financial regulatory processes that have become antiquated and filled with loopholes for corruption. In other words the bad guys figured out how to work around and with these regulations.
It is the fear of this new wealth distribution falling into the existing corrupt activity that has caused pause from those who are sponsoring the event. (China wants to make sure the money doesn’t feed the monster we are trying to starve out and they need assurances it won’t happen)
This educational piece is meant to bring an awareness and understanding as to why and how delivery of funds can be delayed. Our personal sense of urgency does not negate the fact that there are bigger issues to consider if this event is not done properly.
If rushed, without the considerations as stated above, the possible negative ramifications to all of us can be massive. Understanding the spirit of the financial regulatory systems (FATF recommendations) will aid you in moving forward when structuring financial and business activity.
For a PDF on the 40 original recommendations of the FATF send a request to replytodjpost@gmail.com subject line FATF. These original 40 recommendations do not include the Interpretive Notes (Which are part of the later revisions). But are the framework for the current standards.
The entire text of the FATF Recommendations can be found at:
http://www.fatfgafi.org/media/fatf/documents/recommendations/pdfs/FATF%20Recommendations%202012.pdf
be prepared though, the entire text is about 140 pages long.
