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The Asia/Pacific Group on Money Laundering (APG) is a FATF-style regional inter-governmental (international) body, the members of which are committed to effectively implementing the international standards against money laundering (Anti–money laundering or AML), combating the financing of terrorism (CFT) and financing the proliferation of weapons of mass destruction.
Anti-Money Laundering Office (Thailand) Anti-Money Laundering Office, Executive Yuan; Anti–money laundering framework for financial institutions in France; Asia/Pacific Group on Money Laundering; Association of Certified Anti-Money Laundering Specialists
FATF was formed at the 1989 G7 Summit in Paris to combat the growing problem of money laundering. The task force was charged with studying money laundering trends, monitoring legislative, financial and law enforcement activities taken at the national and international level, reporting on compliance, and issuing recommendations and standards to combat money laundering.
The office was established on 16 March 2017, five years after the second round of an Asia/Pacific Group on Money Laundering performance review stated that Taiwan's existing laws regarding money laundering did not conform to international standards. [1]
It is the biggest money laundering case in Singapore, and among the biggest in the world, [2] involving assets worth 3 billion Singapore dollars. [ 3 ] Initially, only 1 billion Singapore dollars worth of assets was either seized, frozen or issued prohibition of disposal orders although the value of assets involved would later balloon to 3 ...
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Anti–money laundering (AML) refers to a set of policies and practices to ensure that financial institutions and other regulated entities prevent, detect, and report financial crime and especially money laundering activities. Anti–money laundering is often paired with combating the financing of terrorism, using the initialism AML/CFT.
Although its main focus is on tax crime, the OECD is also concerned with money laundering and has complemented the work carried out by the FATF. [ 46 ] The OECD has maintained a 'blacklist' of countries it considers "uncooperative tax havens" in the drive for transparency of tax affairs and the effective exchange of information, officially ...