Hostile to Tax evasion and Countering Terrorist Financing in Bank Ventures.

Uploaded on:
Category: Sales / Marketing
AML/CFT work in the Bank. DefinitionsMoney laundering (ML)is the procedure by which the returns got from a criminal movement are camouflaged with an end goal to hide their unlawful birthplaces and to legitimize their future use.
Slide 1

Against Money Laundering & Countering Terrorist Financing in Bank Projects The World Bank Finance Forum 2004 September 23, 2004

Slide 2

AML/CFT work in the Bank Definitions Money laundering (ML)is the procedure by which the returns got from a criminal movement are masked with an end goal to hide their unlawful sources and to legitimize their future utilize. Psychological militant financing (TF) is the budgetary support, in any frame, of fear based oppression or the individuals who energize, arrange or take part in psychological oppression.

Slide 3

AML/CFT work in the Bank James D. Wolfensohn : the worldwide group ought to act "where it truly matters" Economically, IRS evasion and financing of fear based oppression truly matter Post-9/11 advancement

Slide 4

AML/CFT work in the Bank Adverse ramifications for creating nations include: 1.    Potential increment in wrongdoing and debasement 2.    Potential Damage to notoriety of monetary establishments and market 3.    Less remote private speculation 4.    Possible destabilization of budgetary markets

Slide 5

AML/CFT work in the Bank Because ML and TF can have especially harming monetary and social results for powerless customers nations, the Bank board chose in January 2002 to set a unique AML/CFT working system The Bank\'s AML/CFT program is a multi-pronged approach that supplements the Bank\'s other work.

Slide 6

The Board Mandate AML/CFT Assessments in FSAPs Technical help Cooperation with existing AML/CFT bunches Cooperation with others TA suppliers to dodge duplication of endeavors

Slide 7

TA Program and Policy TA gave by the Bank has centered on:  -   drafting of laws and directions -   execution of preventive measures in the monetary framework - preparing bank chiefs -   setting up FIUs - preparing of evaluators (FSRBs)

Slide 8

TA Program and Policy TA is conveyed in a powerful and proficient way. Cases of TA conveyed include: o        Individual nation TA o        Multi-nation/Regional preparing workshops o        GDLN (Global Distance Learning Network) preparing programs o        Global Dialog arrangement o   E-learning programs (right now in progress)

Slide 9

High interest for AML/CFT specialists or experts Increasing solicitations for Technical help Funding Clear International AML/CFT Standards Existing Evaluation Systems (FATF, FSRB & FSAP) Orgs, systems & contributors (UNODC, Egmont Group, ADB, IADB, and so forth ) Challenges Advantages

Slide 10

Organizations FATF – Financial Action Task Force [] Recently Revised 40 AML + 8 CFT Recommendations FSRBs – FATF-Style Regional Bodies Asia Pacific Group on AM (APG) Caribbean Financial Action Task Force (CFATF) Council of Europe AML/CFT Committee (MONEYVAL) Eastern & Southern Africa AML/CFT Group (ESAAMLG) Financial Action Task Force on ML So. America (GAFISUD) New FSRBs (not yet formally perceived) Middle Eastern & North Africa Eur-Asian FSRB Sub-saharan Africa (GIABA) Central Africa (GIABAC) Egmont Group – Assn. of Financial Intelligence Units

Slide 11

FSRB Members FATF: Argentina, Australia, Belgium, Brazil, Canada, Denmark, EC, Finland, France, Germany, Greece, Gulf Coop chamber, Hong Kong, Iceland, Ireland, Italy, Japan, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Portugal, Russia, Singapore, South Africa, Spain, Sweden, Switzerland, Turkey, UK, USA. APG: Australia, Bangladesh, Brunei, Taipei, Cook Is., Fiji, Hong Kong, India, Indonesia, Japan, Macau, Malaysia, Marshall Is., Nepal, New Zealand, Niue, Pakistan, Korea, Palau, Philippines, Samoa, Singapore, Sri Lanka, Thailand, USA, Vanuatu. CFATF: Anguilla, Antigua/Barbuda, Aruba, Bahamas, Barbados, Belize, Bermuda, Br. Vir. Is., Cayman Is., Costa Rica, Dominica, Dominican Rep., Grenada, Haiti, Jamaica, Montserrat, Neth. Antilles, Nicaragua, Panama, St. Kitts/Nevis, St. Lucia, St. Vincent/Grenadines, Surinam, Trinidad/Tobago, Turks & Caicos, Venezuela. MONEYVAL: Albania, Andorra, Azerbaijan, Bosnia/Herzegovina, Bulgaria, Croatia, Cyprus, Czech Rep., Estonia, Georgia, Hungary, Latvia, Liechtenstein, Lithuania, Malta, Moldova, Poland, Romania, Russia, San Marino, Serbia/Montenegro, Slovakia, Slovenia, Macedonia, Ukraine. ESAAMLG: Botswana, Kenya, Malawi, Mauritius, Mozambique, Namibia, Seychelles, So. Africa, Swaziland, Tanzania, Uganda. GAFISUD: Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, Paraguay, Peru, Uruguay. MENAFATF: Algeria, Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Qatar, Saudi Arabia, Syria, Tunisia, United Arab Emirates and Yemen. Eur-Asia: Russia, Kazakhstan, Kyrgyz, Tajikistan, Turkmenistan, Uzbekistan, Belarus, China.

Slide 12

AML/CFT Technical Assistance TA credits Trust Funds: Loan planning TFs (change advances) FIRST Initiative Trust Fund Donor coordination Effective & proficient TA conveyance: Multi-nation preparing classes GDLN preparing programs (video gathering) E-learning programs (being worked on)

Slide 13


Slide 14

Regional & nation TA programs 2002: Large (24 nation) preparing meeting, Moscow 2003: Sub-local preparing workshops 2004: Training by GDLN (VC) Central Asian nations Bosnian authorities

View more...