Less than one per cent of global illicit financial flows is estimated and recovered, according to estimates by the United Nations Office on Drugs and Crime. A new FATF-Interpol initiative marks a turning point in global efforts to recover illicit assets.

The Financial Action Task Force, the FATF, is the global money laundering and terrorist financing watchdog.

The INTERPOL National Central Bureau in Madagascar and SAMIFIN have launched a joint initiative to enforce the capacity building and signed two agreements.

Ensuring authorities can seize the dirty money that fuels serious crime and terrorism is a top priority for the FATF is a priority for the FATF under its Singapore Presidency. It is vital for governments to focus attention on improving the seizure of criminal assets.