Key Groups

  • Group

  • Description

  • Key Documents

Financial Action Task Force on Money Laundering

  • Intergovernmental body with 34 member countries and two international organizations.

  • Sets money laundering and terrorist financing standards.

  • 40 Recommendations on Money Laundering and Terrorist Financing (Last updated February 2012).

Basel Committee on Banking Supervision

  • Established by the central bank governors of the G-10.

  • Promotes sound supervisory standards worldwide.

  • Customer Due Diligence for Banks Paper (2001).

  • Sharing of financial records between jurisdictions in connection with the fight against terrorist financing (2002).

  • General Guide to Account Opening and Customer Identification (2003).

  • Consolidated KYC Risk Management Paper (2004).

  • European Union

  • The EU Directives on anti-money laundering require the EU member states to issue legislation to prevent their domestic financial systems being used for money laundering.

  • 1st EU Directive on Prevention of the Use of the Financial System for the Purpose of Money Laundering (1991).

  • 2nd Directive (2001).

  • 3rd Directive (2005).

  • Wolfsburg Group

  • Association of 11 global banks.

  • Aims to develop standards on moneylaundering controls for banks.

  • Wolfsburg Anti-Money Laundering Principles for Private Banking (last updated 2002).

  • The Suppression of the Financing of Terrorism Guidelines (2002).

  • Anti-Money Laundering Principles for Correspondent Banking (2002).

APG, GAFISUD,

CFATF,

MENAFATF,

Eurasian Group,

Eastern and

South African

  • AML Group

  • FAFT-style regional bodies

  • Typologies exercises (methods of money laundering)

Egmont Group

  • Informal networking group for Financial Intelligence Units

  • Statement of Purpose (last updated 2004).

  • Principles for Information Exchange between Financial Intelligence Units for Money Laundering Cases (2001).

  • Best Practices for the Exchange of Information Between Financial Intelligence Units (2004).

  • CICAD

Commission within the Organization of American States that deals with drug-related issues, including money laundering.

  • Model Regulations

World

Bank and

International

Monetary Fund

These organizations work together and in conjunction with FATF in encouraging countries to have adequate anti money laundering laws and reviewing the laws and procedures of FATF member countries.

Reference Guide to Anti-Money

Laundering and Combating the

Financing of Terrorism: A Manual for Countries to Establish and Improve Their Institutional Framework 2002 (revised 2007).




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