Targeted financial sanctions related to terrorism, terrorist financing and proliferation

Lecture 6. Institutional bases of the international AML/CFT framework

Key words

· Counter-Terrorism Committee (CTC)

· Counter-Terrorism Committee Executive Directorate (CTED)

· United Nations Office on Drugs and Crime (UNODC)

· International Money-Laundering Information Network (IMoLIN)

· Global Program against Money Laundering (GPML)

· World Bank

· technical assistance

· assessments

· policy development

· workshop

· Financial Action Task Force (FATF)

· Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL)

· FATF-style regional bodies (FSRBs)

· training

· Egmont Group

· IAIS

· IOSCO

· BCBS

· Wolfsberg Group of banks

· Organization for Economic Co-operation and Development (OECD)

· Group of Eight (G8)

· Egmont Secure Web (ESW)

· International Monetary Fund (IMF)

Key questions

· List the CFT bodies operating with the UNSC.

· Which chapter of the Charter of the UN makes resolutions, passed under it, legally binding to all UN member states?

· The implementation of which UNSC resolution was the CTC tasked with monitoring?

· What was the purpose of establishing the CTED?

· Who is responsible for carrying out the GPML?

· What does the UNODC grant to developing countries?

· What is IMoLIN and what kind of AML/CFT data does it provide?

· Whom does the UNODC organize training for?

· List the main groups of advisory services rendered by UNODC.

· When did IMF get engaged in AML/CFT?

· List the main directions of technical assistance provided by the World Bank.

· In which areas of AML/CFT does the Financial Market Integrity Group implement its policy development programs?

· Why is it so important to create country-specific laws on AML/CFT? Which organizations provide such technical assistance?

· How was the G8 involved in establishment of the FATF?

· What is the FATF mandate?

· How is the FATF presidency organized?

· List three main activities of the FATF.

· What is common in countries that are the FATF members?

· What does the FATF do with high-risk jurisdiction?

· Why is it so important to study ML and TF methods and trends?

· What activities are the FSRBs engaged in?

· Which specific function do the FATF observers have in common?

· What is the reason for creating FSRBs?

· List the main types of areas of work that the FATF observers can be grouped by?

· What is the mission of the Egmont Group?

· What is the Egmont Secure Web and what does it allow to facilitate?

· What are the three areas of work that the Egmont Group is engaged in?

· List the main AML/CFT-related documents adopted by the Basel Committee on Banking Supervision.

· Which international organization operates with regard to the AML/CFT guidelines in the securities sector?

· Which international organization has issued guidance papers on money laundering prevention in the insurance sector?

· What is distinctive regarding the ownership of the Wolfsberg group members?

· List the most important documents adopted by the Wolfsberg group.

· Which areas were covered by the “frequently asked questions” series, published the Wolfsberg group?

· Name the organization that issued the Anti-money laundering principles for private banking (revised in 2012).

· List main principles outlined in the Anti-money laundering principles for private banking (revised in 2012).

· Which areas of work are covered in the Anti-corruption guidance, released by the Wolfsberg group in 2011?

6.1. The United Nations bodies of the international AML/CFT framework

6.2. The United Nations organizations of the international AML/CFT framework

Date: 2015-01-29; view: 1117