Dirty Money: Evaluating the effectiveness of existing anti-money laundering and counter-terrorist financing (AML/CFT) measures in the Middle East

Both money laundering and terrorist financing are two activities that abuse the financial system. As a result, similar techniques are implemented for both anti-money laundering and counter terrorist financing (AML/CFT) measures. Efforts to combat money laundering and terrorist financing have been broad and vast. There seems to be a lack of consensus on whether the existing anti-money laundering and countering terrorist financing measures are effective. This study uses a literature review and jurisdictional scan to explore the existing measures while identifying gaps. This study also aims to answer how Canada and Global Affairs specifically, fits into this. Three policy options are proposed and evaluated. The key objective of these policies is to increase the effectiveness of the existing AML/CFT measures in the Middle East.