Qatar's measures to combat money laundering and terrorist financing
Paris, 31 May 2023 - Qatar has made substantive improvements to its system to combat money laundering and terrorism financing and its technical compliance with FATF requirements is very strong. However, Qatar needs to make some major improvements, in its criminal justice response to terrorist financing. Qatar is a small but wealthy country with a workforce that is primarily expatriate. The country has low domestic crime rates, but is nevertheless exposed to money laundering risks from smuggling, fraud, drug crimes and corruption. Qatar faces a notable terrorist financing risk with its citizens targeted for fundraising at home and abroad. The FATF- MENAFATF mutual evaluation of Qatar highlights that the c ountry has a good understanding of the money laundering and terrorist financing risks it faces but it needs to improve understanding of more complex forms of money laundering and terrorist financing. Qatar has implemented a risk-based approach to the assessment o...