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The FATF describes "High-risk jurisdictions subject to a Call for Action" as having "significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members and urges all jurisdictions to apply enhanced due ...
In addition, the European Commission has created a list of high-risk countries on money laundering and terrorism financing, including: Afghanistan, Iran, Iraq, North Korea, Syria, Uganda, Vanuatu and Yemen (since 20 September 2016), Trinidad and Tobago (since 14 February 2018), Pakistan (since 2 October 2018), The Bahamas, Barbados, Botswana ...
Basel AML Index: An interactive country ranking and risk assessment tool for money laundering and terrorist financing. [30] The public ranking has been published annually since 2012 and reveals slow progress across the board in tackling money laundering risks. [31]
The FATF's Forty Recommendations on Money Laundering of 1990 are the primary policies issued by FATF [19] and the Nine Special Recommendations (SR) on Terrorism Financing (TF). [20] The Recommendations are seen globally as the world standard in anti-money laundering as well many countries have committed to putting the Forty Recommendations in ...
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.
Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, underground sex work, terrorism, corruption, embezzlement, and treason, and converting the funds into a seemingly legitimate source, usually through a front organization.
MONEYVAL is the official denomination of the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism. It is a permanent monitoring body of the Council of Europe, with 35 member states and jurisdictions out of which 32 are assessed exclusively by MONEYVAL.
The Financial Secrecy Index (FSI) is the report published by the advocacy organization Tax Justice Network (TJN) which ranks countries by financial secrecy indicators, weighted by the economic flows of each country. [a] It looks at how wealthy individuals and criminals can hide and launder money using the country's legal and financial systems.