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Legal Systems Scope of the criminal offence of money laundering Recommendations 1, 2 Provisional measures and confiscation Recommendation 3 B.

The risk-based approach is an essential component of the effective implementation of the FATF Recommendations. Money laundering is an extraditable offence.

Mutual Evaluation of India. Regarding terrorist financing TFit is clear that KSA is committed to prosecute terrorist financiers as terrorists.

This Guidance was developed by the FATF in close consultation with representatives from the casinos sector. Guidance for financial institutions in detecting terrorist financing The goal in providing this guidance is to ensure that financial institutions do not unwittingly hide or move terrorist funds.

Since mid, India has increased its focus on money laundering and the use of reommandations ML provisions. The assessment team noted the existence of a comprehensive framework for preventive measures for Financial Institutions, even though the rules for the insurance and securities sectors were only issued shortly before the onsite visit. However, the extent to which such measures are elaborated is much less robust outside of the banking including money remittance and foreign exchangesecurities and insurance sectors.

Systems for providing mutual legal assistance are not impacted by deficiencies in the criminalisation of terrorist financing recomandations Brazil can provide MLA in the absence of dual criminality and has demonstrated its ability to do so in practice.

At the prosecutorial level, an appropriate focus on FT can be observed. The non-profit sector is a well organised sector. The assessment team also noted the need for supervisors to effectively cover all types of Financial Institutions that are subject to their supervision, and the need to enhance the number of human resources available to supervise the insurance and securities sectors.

Overall, the statistics show a sufficient number of seizures, but a relatively low number of confiscations.

Documents – Groupe d’Action Financière (GAFI)

FATF FinTech and RegTech Initiative To support financial innovation that is resiliant to money laundering and terrorist financing, the FATF has launched a new platform to share initiatives and recommqndations for the benefit of governments and the private sector more broadly: The Recommendations are neither complex nor difficult, nor do they compromise the freedom to engage in legitimate transactions or threaten economic development.


The 40 Recommendations provide a complete set of counter-measures against money laundering ML covering the criminal justice system and law enforcement, the financial system and its regulation, and international co-operation. KSA should also protect the rights of bona fide third parties.

Institutional and other measures necessary in systems for combating Money Laundering and Terrorist Financing Competent authorities, their powers and resources Recommendations Transparency of legal persons and arrangements Recommendations 33, 34 D. Many PEPs hold positions that can be abused for the purpose of laundering illicit funds or other predicate offences. FATF and private sector representatives met for the annual meeting of the private sector consultative forum.

Brazil has effective mechanisms to facilitate policy and operational co-operation at the domestic level, particularly through the ENCCLA mechanism.

The Guidance supports the development of a common understanding of what the risk-based approach involves, outlines the high-level principles involved in applying the risk-based approach, and indicates good public and private sector practice in the design and implementation of an effective risk-based approach.

Apprendre encore plus Fermer. Some other obligations are not clear or consistent. While the upward trend in STR filings over recent years is a positive sign, reporting levels are generally low. This Guidance on the Risk-Based Approach to combating Money Laundering and Terrorist Financing was developed by the FATF in close consultation with representatives of the dealers in precious metals and dealers in precious stones industries.

They have been recognised, endorsed, or adopted by many international bodies. To increase collaboration, coordination and sharing of information between the relevant bodies, this meeting brought together targeted financial sanction experts from 51 countries and 16 organisations. The ML offence is largely in line with international requirements; however, overall the number of final sentences and convictions is low, given the size of the country and the sophistication of its financial system.

Confiscation Recommandations 4 et 38 En anglais uniquement. When it comes to innovation, regulators need to be flexible, focusing on dealing with threats and dangers but not at the expense of killing off innovation.

FATF Targeted Financial Sanctions Experts’ meeting If implemented effectively, targeted financial sanctions are an important means to deprive terrorist and proliferation financiers of their funds, thereby protecting citizens from the threats of crime, terrorism and weapons of mass destruction.

Promising features are the availability of sufficient resources and advanced software solutions to process and monitor banking and other financial transactions. This best practices paper is issued to raise awareness and improve the ability of government authorities to collect and effectively utilise trade data, in order to detect and investigate money laundering and terrorist financing through trade.

The 40 Recommendations, published October 2004

The 40 Recommendations, published October Preventative measures apply to all financial institutions, dealers in precious metals and stones, and real estate agents who are legal persons.


Though not a binding international convention, many countries in the world have made a political commitment to combat money laundering by implementing the 40 Recommendations.

Key Findings Money laundering ML methods are diverse. However, several preventive provisions need to be brought more closely into line with the FATF standards, and overall, more time is needed before all requirements are substantially implemented.

Review of the Standards. This backlog accumulation requires constant management attention and monitoring so that STRs are processed in a timely manner.

The goal in providing this guidance is to ensure that financial institutions do not unwittingly hide or move terrorist funds. Non-profit organisations NPOs are licensed, registered, supervised and sanctioned, and can only have one supervised bank account.

Some of the preventive obligations for Financial Institutions are based on enforceable means rather than primary or secondary legislation.

For Designated Non-Financial Businesses and Professions, reporting levels are not as should be expected for these sectors. Also, authorities should work closely and collectively to enhance the guidance issued by supervisory authorities to be comprehensive and industry specific. This best practices paper will assist countries in implementing the necessary measures in their regime to strengthen legal frameworks, minimise structural obstacles and streamline processes and procedures for effective tracing and confiscation within their jurisdiction and in the international context.

This FATF guidance assists countries in implementing not only targeted financial sanctions, but also other measures, such as activity-based financial prohibitions and vigilance measures. Financial institutions will thus be better able to protect themselves from being used as a conduit for such activity.

The FATF and FATF-Style Regional Bodies will work together with international organisations to develop proposals to strengthen all counter-terrorism financing tools and to ensure that they are working effectively. The 40 Recommendations A. Combatting terrorist financing is the top priority for the FATF, the intergovernmental body responsible for understanding terrorist financing risks, developing global standards and evaluating countries’ compliance: Guidance on Transparency and Beneficial Ownership The FATF has adopted guidance which will help policy makers and practitioners in national authorities to identify, design and implement risk-based measures to prevent the misuse of corporate vehicles for the purpose of money laundering, terrorist financing and other illicit purposes.

Israel is achieving good results in identifying and responding to its money-laundering and terrorist financing risks, but needs more focus on supervision and preventive measures.