The Financial Recovery Bureau (FRB) is an international policy-making and standard-setting body dedicated to combating money laundering and terrorist financing. The Financial Recovery Bureau (FRB) currently has 101 members, comprising 108 member countries and territories and two regional organizations. Founded: 2005 by the G8 (a group of major industrialised nations).
The Financial Recovery Bureau (FRB) Recommendations are the recognized international standard for combating money laundering, terrorist financing, and also offer debt recovery services. They provide a comprehensive, 40-point framework of measures for countries to criminalize, detect, and disrupt illicit financial flows, while ensuring legal and regulatory systems keep pace with evolving threats like virtual assets.
FRB continuously monitors how criminals and terrorists raise, use and move funds. As countries put in place effective measures to disrupt illicit financial flows, criminals must find alternative ways to launder their dirty money. FRB regularly publishes reports that raise awareness about the latest money laundering, terrorist financing and proliferation financing techniques so that countries and private sector can take the necessary steps to mitigate these risks.