ABOUT IFTA

Our Mission Statement

To ensure safe, transparent, and efficient international funds transfers by developing global standards, enforcing compliance, and fostering cooperation among financial institutions, regulators, and governments.

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Vision Statement

To be the leading global authority for regulating and securing cross-border financial flows, empowering inclusive economic growth, and combating illicit financial activities worldwide.

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Who We Are

The International Funds Transfer Authority (IFTA) is a regulatory and supervisory body committed to overseeing and facilitating international money transfers across jurisdictions. We operate at the intersection of finance, policy, and technology to build trust in global financial systems.

We work with central banks, financial institutions, law enforcement agencies, and international organizations to:

Develop and enforce compliance frameworks for cross-border transfers

Monitor and report on international fund movement risks

Support technological innovation in the remittance and payment sector

Protect consumers and enhance transparency

 

 

Core Objectives of IFTA

  • Regulate cross-border payments.
  • Prevent financial crimes like money laundering and terrorism financing.
  • Ensure transparency and traceability of international transfers.
  • Protect financial systems through compliance standards and reporting procedures.

Challenges of IFTA

Regulatory Fragmentation

Diverse financial regulations across countries can make harmonization and enforcement of rules complex and inconsistent.

Money Laundering & Terrorism Financing

Cross-border transactions are frequently exploited for illegal purposes, requiring constant vigilance, intelligence-sharing, and evolving compliance mechanisms.

Technological Disparities

Variations in digital infrastructure and cybersecurity standards between countries can hinder the secure and efficient transfer of funds.

Currency Volatility and Exchange Risks

Managing and regulating transfers in volatile currency markets can affect the value and integrity of international remittances.

High Transaction Costs

Fees and barriers in low-income corridors affect the affordability of sending money, especially for migrant workers and underbanked populations.

Data Privacy & Sovereignty

Balancing international oversight with the need for national data protection and sovereignty laws is a growing legal and operational challenge.

Real-Time Monitoring & Compliance

Ensuring real-time tracking of fund flows while maintaining user privacy and due process is technologically and legally demanding.

Financial Inclusion

Ensuring that international transfer systems are accessible to remote and underserved populations remains a key developmental challenge.