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Download Combating Money Laundering and the Financing of Terrorism: A by World Bank, International Monetary Fund PDF

By World Bank, International Monetary Fund

Cash laundering and the financing of terrorism are worldwide difficulties that not just threaten a country’s safety, but additionally compromise the steadiness, transparency, and potency of its economic climate, for this reason undermining its financial prosperity. the once a year worldwide estimate for cash laundering is greater than $1 trillion, valued in U.S. money. Efforts to counter those actions are often called anti–money laundering and fighting the financing of terrorism (AML/CFT) programs.

The 'Combating funds Laundering and the Financing of Terrorism' education software was once built through the realm Bank’s monetary industry Integrity Unit, with help from the governments of Sweden, Japan, Denmark, and Canada. this system can assist international locations construct and boost their AML/CFT efforts via education all suitable employees in either the private and non-private sectors, resembling employees in fi nancial intelligence devices, monetary supervisory experts, legislation enforcement companies, and monetary institutions.

The education guide’s modules are:
Module 1: results on monetary improvement and foreign Standards
Module 2: felony standards to satisfy overseas Standards
Module 3a: Regulatory and Institutional standards for AML/CFT
Module 3b: Compliance specifications for monetary Institutions
Module four: development an efficient monetary Intelligence Unit
Module five: family (Inter-Agency) and foreign Cooperation
Module 6: fighting the Financing of Terrorism
Module 7: Investigating funds Laundering and Terrorist Financing

The modules hide the entire monetary motion job strength on Anti–Money Laundering’s 40 thoughts and 9 specified ideas, with the unique texts. each one module is concentrated at a particular workforce of execs in a jurisdiction’s AML/CFT regime, even supposing they could additionally reap the benefits of gaining wider wisdom in the course of the different modules integrated during this application. every one module offers questions before everything and finish to evaluate how a lot has been realized. the educational consultant comprises various case experiences, discussions and analyses of hypothetical and real examples of cash laundering schemes, and most sensible practices in research and enforcement, as a way to support readers totally comprehend the implementation of profitable AML/CFT courses.

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Extra info for Combating Money Laundering and the Financing of Terrorism: A Comprehensive Training Guide

Sample text

This structure remains broadly the right one for the organization and should be maintained. 19. Over the long term, it will be vital for the FATF to evolve if it is to maintain an effective response to the constantly changing threats facing the international financial system. It will therefore be essential that the structure, organization, and operational planning of the FATF remain flexible and able to adapt to meet new challenges as they arise. (b) Membership 20. The FATF has gradually increased its membership, and since 2000 has admitted six new members and has accepted two observer countries that are expected to become members in due course.

FSRBs, which are task forces with regional jurisdiction that are modeled on the FATF in mandate, functions, and methods of operation. • Regional organizations with wider mandates that have adopted initiatives against money laundering and terrorist financing. For example, the Organization of American States, the Council of Europe, and the Asian Development Bank (ADB). • Groups of special players in the fight against money laundering and terrorist financing. For example, the Egmont Group, which is a network of financial intelligence units (FIUs).

21. The FATF currently has 22 observer organizations/bodies. To make the most effective and efficient use of these relationships the FATF will review its policy on observer status. (c) Presidency 22. Each Presidency will continue to be designated by the Plenary for the duration of one year, and will be supported by a Vice-Presidency, which will be the Presidency-designate. (c) The International Bank for Reconstruction and Development / The World Bank Effects on Economic Development and International Standards | 51 (d) The Steering Group 23.

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