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 safeguard, but in addition compromise the soundness, transparency, and potency of its economic system, therefore undermining its fiscal prosperity. the yearly worldwide estimate for cash laundering is greater than $1 trillion, valued in U.S. cash. Efforts to counter those actions are referred to as anti–money laundering and fighting the financing of terrorism (AML/CFT) programs.

The 'Combating cash Laundering and the Financing of Terrorism' education application was once constructed via the realm Bank’s monetary marketplace Integrity Unit, with aid from the governments of Sweden, Japan, Denmark, and Canada. this system can help international locations construct and increase their AML/CFT efforts via education all appropriate employees in either the private and non-private sectors, corresponding to employees in fi nancial intelligence devices, monetary supervisory specialists, legislations enforcement companies, and monetary institutions.

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

The modules disguise the entire monetary motion job strength on Anti–Money Laundering’s 40 ideas and 9 specified strategies, with the unique texts. every one module is concentrated at a selected workforce of execs in a jurisdiction’s AML/CFT regime, even though they could additionally reap the benefits of gaining wider wisdom in the course of the different modules incorporated during this software. each one module presents questions first and foremost and finish to evaluate how a lot has been realized. the learning advisor includes quite a few case experiences, discussions and analyses of hypothetical and real examples of cash laundering schemes, and top practices in research and enforcement, to be able to support readers absolutely comprehend the implementation of winning AML/CFT courses.

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

Sample text

It also plays a leading role in regional integration. The IADB pays special attention to questions of money laundering and terrorist financing in its client countries. In this regard, it has partnered with the Inter-American Drug Abuse Control Commission (CICAD) to provide technical assistance on money laundering control and prevention. One of the IADB’s initiatives involved training bank regulators and bank officers in the detection of money laundering transactions. The IADB also considers money laundering issues when it provides loans to client countries for financial sector reform.

MIDDLE EAST AND NORTH AFRICA FINANCIAL ACTION TASK FORCE The Middle East and North Africa Financial Action Task Force (MENAFATF) was established at an inaugural ministerial meeting held in Manama, Bahrain, in November 2004. Its headquarters is in the Kingdom of Bahrain and it currently has 17 members. MENAFATF monitors implementation of international standards through self-assessment and mutual evaluation, undertakes typologies studies, facilitates international cooperation, and provides technical assistance to member jurisdictions.

Its regional scope covers South Asia, Southeast Asia, and East Asia and the South Pacific with 38 member jurisdictions as of July 2008. The purpose of the APG is to facilitate the adoption, implementation, and enforcement of internationally accepted standards against money laundering and the financing of terrorism. The functions of the APG include improving the understanding of money laundering and terrorist financing typologies in the region through systematic analyses of typologies, monitoring the implementation of international standards through processes of self-assessment and mutual evaluation, and providing technical assistance to member jurisdictions.

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