· 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
Runs The International Money-Laundering Information Network (IMoLIN), a consolidated AML/CFT research resource (est. 1998) which provides data on:
· laws and regulations
· improvement in domestic laws
· countermeasures
· international co-operation
2. The United Nations Office on Drugs and Crime (UNODC)
It is responsible for carrying out the Global Program against Money Laundering (GPML est. 1997)
Grants to authorities from developing countries technical assistance against money laundering
Advisory services:
· reviewing legal and institutional frameworks
· assisting in the drafting or upgrading of legislation
· ensuring that the necessary mechanisms against money-laundering and the financing of terrorism are in place and are efficiently implemented
· developing of specific national and regional institutions, in particular the development of financial intelligence units
· raising the awareness, understanding and implementation of best practices in the regulation of financial services
Organizes training workshops and seminars for employees of law enforcement agencies, the judiciary, regulatory bodies, central banks and private business enterprises in the banking and finance sector
1. The United Nations Security Council (UNSC)
Its powers include the establishment of peacekeeping operations and international sanctions. The UNSC exercised its AML/CFT-related powers through resolutions that cover the initiatives on combating the financing of terrorism. The resolutions adopted under Chapter VII of the Charter of the UN are legally binding to all UN member states.
The UNSC Counter-Terrorism Committee (CTC) was established after September 11, 2001. The CTC was tasked with monitoring the implementation of UNSC resolution 1373 (2001).
The Counter-Terrorism Committee Executive Directorate (CTED) was established in 2004 to assist the work of CTC and to coordinate the process of monitoring the implementation of UNSC resolution 1373 (2001).
6.2. The United Nations organizations of the international AML/CFT framework
1. The International Monetary Fund (IMF)
The IMF engaged in AML/CFT in 2001
By 2012 the IMF participated in over 70 technical assistance and research projects
Conducting financial sector assessments
Providing technical assistance
Exercising surveillance over national economic systems
To evaluate countries’ compliance with international AML/CFT standard
To help them to eliminate identified shortcoming of national AML/CFT systems
Conducting scientific AML/CFT research and developing assessment methodology
Launched a donor-supported trust fund to finance technical assistance in AML/CFT (2009)
2. The World Bank
The Financial Market Integrity Group with the World Bank supports countries through implementing the following AML/CFT programs
Technical assistance
Policy development
Assessments
· create country-specific laws on AML/CFT
· set up effective institutional frameworks
· foster the implementation of an AML/CFT regime
· develop financial intelligence capacity
· enhance the ability of the judiciary
· Bilateral Remittance Corridor Analysis
· Stolen Asset Recovery Program
· Governance in FIUs
· Anti-Money Laundering Tools to Fight Corruption and Illegal Logging
· Risk and Vulnerability Assessment Methodology and Tool
· Handbooks for Bank and Securities Sector Supervisors
· AML/CFT Transparency
· Trade finance and AML
· Tackling the Financing of Terrorism
