Find out about the world, a region, or a country, * membership suspended on 24 February 2023, High-Risk and Other Monitored Jurisdictions, Browse our publications, including reports, guidance and statements. Produced by the Basel Institute on Governance since 2012, it provides holistic money laundering and terrorist financing (ML/TF) risk scores based on data from 18 publicly available sources such as the Financial Action Task Force (FATF) , Transparency International, the World Bank and the World Economic Forum . PDF Biases in national aml assessments 30 September 2021 - Central Bank of FATF Consolidated Assessment Ratings - Asia/Pacific Group on Money is an organisation of states and territories of the Caribbean basin which have agreed to implement common counter-measures against money laundering and terrorism financing. A complete mutual evaluation takes up to 18 months. CFATF Public Statement on Sint Maarten at L Plenary St. Johns, Antigua and Barbuda, November 27th,2019. This Appendix summarizes information discussed elsewhere in this Article. To align the methodology for R.5 and IO.9 with the revised Interpretive Note to Recommendation 5 and the Glossary term "funds or other assets". JP.,Attorney General, The Cayman Islands, Home | Contact us | Sitemap | Terms and Conditions |. Does the CFATF conduct Criminal Investigations? What is expected from a country differs, depending on the money laundering, terrorist financing and other risks it is exposed to. The Financial Action Task Force's (FATF) 4th Round Mutual Evaluation Report (MER) on Hong Kong's AML/CFT regime represents an important milestone for our professional community and serves. Samuel Bulgin K.C., Chairman of the Caribbean Financial Action Task Force (CFATF), attended the, CFATF 56th Plenary and Working Group Meetings Outcomes Photo from left to right: Members of, Press Release The Central Bank is today releasing an anti-money laundering (AML) compliance report prepared, CFATF MINISTERIAL SUB-COMMITTEE MEETS WITH FATF PRESIDENT At the October 2022 Council of Ministers meeting,, Fourth Round Mutual Evaluation Report of the Bolivarian Republic of Venezuela The CFATF Plenary held, Cayman Satisfies FATF Action Plan; Onsite Visit Authorised, Hon. The assessment is conducted on the basis of 11 immediate outcomes, which represent key goals that an effective AML/CFT system should achieve. End of the 3rd Round of Assessments and Beginning of the 4th Round `vA Addition of footnotes to clarify the expectations when assessing effectiveness under IO.3 and IO.4, taking into consideration the risk, context and materiality of the country being assessed. A mutual evaluation report provides an in-depth description and analysis of a countrys system for preventing criminal abuse of the financial system as well as focused recommendations to the country to further strengthen its system. PK ! Co-ordination with . Introduction paragraphs 21, 22, 24 and diagram at paragraph 44 pages 9, 10 and 18 Mutual Evaluations - Financial Action Task Force (FATF) These procedures were last revised in September 2022. Procedures for the FATF Fourth Round of AML/CFT Mutual Evaluations This document sets out the procedures that are the basis for the fourth round of mutual evaluations which involves two inter-related components for technical compliance and effectiveness. Restricted access for FATF delegates only, Terms & conditions | Privacy Policy |Sitemap, Asia/Pacific Group on Money Laundering (APG), Caribbean Financial Action Task Force (CFATF), Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), Financial Action Task Force of Latin America (GAFILAT), Inter Governmental Action Group against Money Laundering in West Africa (GIABA), Middle East and North Africa Financial Action Task Force (MENAFATF), Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL), High-Risk Jurisdictions subject to a Call for Action - June 2023, Jurisdictions under Increased Monitoring - 23 June 2023, FATF Guidance on Beneficial Ownership Recommendation 24 - Public Consultation, Revision of R25 and its Interpretive Note Public Consultation, Risk-Based Approach Guidance for the Real Estate Sector - summary of the FATF public consultation, FATF Methodology for assessing compliance with the FATF Recommendations and the effectiveness of AML/CFT systems, High-risk and other monitored jurisdictions. The FATF conducts mutual evaluations of its members levels of implementation of the FATF Recommendations on an ongoing basis. $2p8G'F9pEWy? The assessment team will prepare, coordinate and refine a draft MER and the Executive Summary, including the key findings, as well as the preliminary recommendations and ratings. What is involved in a mutual evaluation? FATF: Fourth Round Mutual Evaluation Report - LinkedIn Recommendation 15, Note to assessors and criteria 15.3 15.11 pages 54-57 The FATF has started its fourth round of mutual evaluations with the assessments of Australia, Belgium, Norway and Spain. This includes an assessment of a countrys actions to address the risks emanating from designated terrorists or terrorist organisations. Caribbean Financial Action Task Force (CFATF) Eurasian Group (EAG) Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) GABAC; Financial Action Task Force of Latin America (GAFILAT) Inter Governmental Action Group against Money Laundering in West Africa (GIABA) Middle East and North Africa Financial Action Task Force (MENAFATF) On effectiveness, the Methodology documents say "It seeks to . The FATF Methodology for assessing compliance with the FATF Recommendations and the effectiveness of AML/CFT systems sets out the evaluation process. The mutual evaluation report is without prejudice to the status or justification that led to the designation of an entity as a terrorist or terrorist group or organisation. XLSX FATF-GAFI.ORG - Financial Action Task Force (FATF) Through its nine FATF-Style Regional Bodies (FSRBs), the FATF brings together a global network of 205 jurisdictions that have each committed at the highest political level, to implementing the FATF Recommendations. Find out about the world, a region, or a country, * membership suspended on 24 February 2023, High-Risk and Other Monitored Jurisdictions, Browse our publications, including reports, guidance and statements. hb```B Consolidated table of assessment ratings - pdf format, An effective system to combat money laundering and terrorist financing. Basel AML Index - Assessing money laundering risks around the world CFATF Chair 2022 - 2023 Honourable Samuel Bulgin, KC. This document sets out the procedures that are the basis for the fourth round of mutual evaluations which involves two inter-related components for technical compliance and effectiveness. What are the FATF Recommendations and how do they affect our Members? It is based in large part on the advice from the three "case study" jurisdictions and offers a checklist of issues for jurisdictions that have not yet undergone their FATF 4th Round Mutual Evaluation. Outcome 3 pages 99 to100 The purpose of this document is to provide clarity and an overview of the CFATF Procedures which also includes important documents generated and/or utilized by the Secretariat throughout the process and does not supersede the details of the CFATF Procedures approved by Plenary and the FATF ICRG Procedures for the 4th Round of Mutual Evaluations. FATF and FSRBs conduct peer reviews on an ongoing basis to assess how effectively their respective members' AML/CFT measures work in practice, and how well they have implemented the technical requirements of the FATF Recommendations. The Methodology will be used by the FATF, the FATF-Style Regional Bodies (FSRBs) and other assessment bodies such as the IMF and the World Bank. PDF Procedures for The Fatf Fourth Round of Aml/Cft Mutual Evaluations Third evaluation round (2005-2009) The third round of mutual evaluations was based on the 2003 revised FATF Recommendations. Procedures for the FATF Fourth Round of AML/CFT Mutual Evaluations. Mutual Evaluation Reports; Typologies Reports; I have a page where you can do so, and where one-off contributions start as low as $3, at https://www.buymeacoffee.com/KoIvM842y What is involved in a mutual evaluation? The assessment of technical compliance is also an important part of a mutual evaluation. To align the methodology for R.8 and IO.10 with the revised Recommendation 8 and interpretive Note to Recommendation 8. endstream endobj startxref PXmS$~'LZmEMT6ox$Iy7Qe0WH[KI-@$#R#P]E,C2.j0WxsXStf6jqu8^4,IqJbK/eGWNG:jJ[w+!EnG PK ! This document sets out the procedures that are the basis for the fourth round of mutual evaluations which involves two inter-related components for technical compliance and effectiveness. The Caribbean Financial Action Task Force (CFATF) is conducting the fourth round of mutual evaluations for its members based on the FATF Recommendations (2012) and the Methodology for Assessing Technical Compliance with the FATF Recommendations and the Effectiveness of AML/CFT Systems (2013), as amended from time to time. FATF mutual evaluations are in-depth country reports analysing the implementation and effectiveness of measures to combat money laundering, terrorist and proliferation financing. procedures for the fatf fourth round of - vdocuments.net The Bahamas - cfatf-gafic.org https://www.fatf-gafi.org/media/fatf/documents/4th-Round-Ratings.pdf Share this: Loading. A simple explanation of the various stages and parties involved in the assessment of the effectiveness of a country's measures to combat money laundering and the financing of terrorism and proliferation. The FATF Methodology for assessing compliance with the FATF Recommendations and the effectiveness of AML/CFT systems sets out the evaluation process. Samuel Bulgin K.C., Chairman of the Caribbean Financial Action, CFATF 56th Plenary and Working Group Meetings Outcomes, BAHAMIAN BANKS AND TRUST COMPANIES RECORD HIGHLY FAVOURABLE COMPLIANCE RESULT, CFATF MINISTERIAL SUB-COMMITTEE MEETS WITH FATF PRESIDENT, Fourth Round Mutual Evaluation Report of the Bolivarian Republic of. Scoping Note: document that identifies areas of lower and higher risk that need reduced or increased focus for the onsite visit. The following are unofficial, working translations of the FATF Methodology, that are provided for information only. ICRG: International Co-operation Review Group. Revision of the Glossary definition of designated categories of offences to clarify the types of offences which fall within the environmental crime category. CFATF Secretariat21st Floor, Nicholas Tower, 63-65 Independence Square, Port of Spain, Trinidad and TobagoTel: 1 (868) 623-9667/4888Fax: 1 (868) 624-1297Email: cfatf@cfatf.orghttps://www.cfatf-gafic.org, Having now fully satisfied the action plan given by the Financial Action Task Force (FATF),, Hon. More than two hundred countriesin the world have agreed to abide by the anti-money laundering ("AML") recommendations developed by the Financial Action Task Force ("FATF"), which is an intergovernmental organization. Evalutions of New Members; VII. The table was updated on September 3rd, 2019 by the inclusion of the MER on Greece. The reports on Norway and Spain will be finalised and published in October 2014. Whose FATF Mutual Evaluations Have Not Yet Occurred . Mutual Evaluations have two main components,effectivenessandtechnical compliance. This table should be read in consultation with the mutual evaluation reports and follow-up reports which are available on the FATF website. Annex 1 to the questionnaire for technical compliance update: size and These procedures were last revised in September 2022. This paper investigates empirically identifiable biases in the two leading global jurisdictional AML risk assessments: the Financial Action Task Force (FATF) mutual evaluation reports (MERs2), and the U.S. State Department's International Narcotics Control Strategy Report, Part II (INCSR II3). PDF POLICY BRIEF Lessons Learned from the Fourth - Royal United Services 4th-Round-Ratings FATF.pdf - 09/03/2021 Albania Albania Immediate Outcomes 1, 2, 3, 4, 6, 7, 8, 9, 10 and 11 pages 97, 102, 105-108, 109-112, 116, 119, 122, 124, 126-127, and 129-130. 4th Round Ratings | PDF | Money Laundering | Financial Regulation - Scribd FATF: CONSOLIDATED AML/CFT ASSESSMENT RATINGS On 31 January, following the addition of updates in respect of Cuba and Colombia, FATF issued an updated of all AML/CFT assessment ratings to date. The FATF calls upon all countries to effectively implement these measures in their national systems. 1. 935 0 obj <>/Filter/FlateDecode/ID[<1888E72A3D7C004CB32230ECA19CC08B>]/Index[920 33]/Info 919 0 R/Length 78/Prev 784488/Root 921 0 R/Size 953/Type/XRef/W[1 2 1]>>stream Stage II: The Post-Onsite Process, CFATF FLOWCHARTS: MER, ICRG and FOLLOW UP March 2018, CFATF Procedures for the Fourth Round of AML/CFT Mutual Evaluations (Updated 14 March 2018), FATF Recommendations 2012 (Updated February 2018), FATF Methodology - February 2013 (Updated February 2018), Home | Contact us | Sitemap | Terms and Conditions |. To amend R.7 to mirror amendments to the FATF Standards (INR.7 and the Glossary) made in June 2017 which reflected changes to the UN Security Council Resolutions on proliferation financing since the FATF standards were issued in February 2012. Restricted access for FATF delegates only, Terms & conditions | Privacy Policy |Sitemap, Asia/Pacific Group on Money Laundering (APG), Caribbean Financial Action Task Force (CFATF), Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), Financial Action Task Force of Latin America (GAFILAT), Inter Governmental Action Group against Money Laundering in West Africa (GIABA), Middle East and North Africa Financial Action Task Force (MENAFATF), Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL), High-Risk Jurisdictions subject to a Call for Action - June 2023, Jurisdictions under Increased Monitoring - 23 June 2023, FATF Guidance on Beneficial Ownership Recommendation 24 - Public Consultation, Revision of R25 and its Interpretive Note Public Consultation, Risk-Based Approach Guidance for the Real Estate Sector - summary of the FATF public consultation, FATF Methodology for assessing compliance with the FATF Recommendations and the effectiveness of AML/CFT systems, High-risk and other monitored jurisdictions, Consolidated Processes and Procedures for Mutual Evaluations and Follow-Up Universal Procedures. >ck`+s`irR!:n^ f, @b2Y0d !Q6 .j v%0Nd`ccacX C$c*HUO;x!3b9Hs20{;, R0 >/Metadata 59 0 R/Pages 918 0 R/StructTreeRoot 99 0 R/Type/Catalog/ViewerPreferences 936 0 R>> endobj 922 0 obj <>/MediaBox[0 0 612 792]/Parent 918 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 923 0 obj <>stream The FATF keeps an up-to-date table of technical compliance and effectiveness ratings for all jurisdictions assessed against the 2012 FATF Recommendations using the 2013 Assessment Methodology. The FATF is conducting a fourth round of mutual evaluations for its members based on the FATF Recommendations (2012), and the Methodology for Assessing Compliance with the FATF Recommendations and the Effectiveness of AML/CFT Systems (2013), as amended from time to time. What is the objective of anti-money laundering, counter terrorist and counter proliferation financing efforts? What is the objective of anti-money laundering, counter terrorist and counter proliferation financing efforts? The set of core elements that apply to all anti-money laundering and counter-terrorist financing assessments, in accordance with the FATF 2013 Methodology. r! . The assessment is Ratings which reflect the extent to which a country has implemented Assessments focus on two areas, effectiveness and technical compliance. CZN-/)Q&Kuq} lty*^MGmwUi9tzhAhfM5ILq1 dU3mhdr&4/>A,F#&$- "{Usx|)z6Yt5|iW5|>g%r5S3&P8,k_K 0e B)A_z~O3`3P^[bzQS8&X]G]g}9:sMIsNuBk}86MKg+i]E6zmcz=U^b(ATf0wPzf(]%T-U}}0,-{xU /ogkcob9{uoox Find out more about the various components that governments must implement, and that the FATF will assess against. %PDF-1.7 % During this visit, the assessment team will require evidence that demonstrates that the assessed countrys measures are working and delivering the right results. The FATF Recommendations are the basis on which all countries should meet the shared objective of tackling money laundering, terrorist financing and the financing of proliferation. A simple explanation of the various stages and parties involved in the assessment of the effectiveness of a country's measures to combat money laundering and the financing of terrorism and proliferation. ^e _rels/.rels ( MK1!;*"l/EMd1`7FAtzwyfx{vE fVKrFH"l3*>.%uGV=\i8XrZJ%\P4H;s>67Mizo#+DYB5V$~"c'ZkRRF%8EsF|02Xn/1=cW7 PK ! These should be read in conjunction with the detailed mutual evaluation reports, which are available on this website. Adopted in 2013, these Procedures were last amended in February 2023. . CFATF ICRG PROCEDURES FOR THE 4th ROUND OF AML/CFT EVALUATIONS The Financial Action Task Force (FATF) is an independent inter-governmental body that develops and promotes policies to protect the global financial system against money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction. Adopted in 2013, these Procedures were last amended in February 2023. Mutual Evaluations - Financial Action Task Force What is the relationship of the CFATF with the Public Sector? Procedures for the FATF Fourth Round of AML/CFT Mutual Evaluations. 15-06-2018 updated 18 May 2018 Table of ratings for assessment conducted against the 2012 FATF Recommendations, using the 2013 FATF Methodology. [Content_Types].xml ( n0EE'mE6@R[Z[gA(H{3:[CB|#.AjBR^+<4b(_vRbSX{!9EV2vV /+OiB>Rm,U_yO0^TzFi1IX.M:5Jc@1vL@G=XfU33v&}HFCu}Sc[+^O]DS?rQbd>,92?$ 7;@gjtg8H-xdnN,z YiM out in Appendix 1 of the FATF . Monitoring progress - Committee of Experts on the Evaluation of Anti Procedures for the FATF Fourth Round of AML/CFT Mutual Evaluations Consolidated assessment ratings - Financial Action Task Force
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