阿德莱德犯罪学作业代写 金融工作

2020-03-18 12:10

The Financial Action Task Force (FATF) is an intergovernmental organism whose purpose is to develop a framework for the defence of governments against Money Laundering (ML) and financing terrorism (FT) risks. It was created in 1989 during an international summit Group of Seven in Paris. It was established due to concerns from the government whose laws were not sufficiently adapted for the authorities to fight the increase of the money laundering process. The FATF also expands its influence thanks to the FATF-Style Regional Bodies (FSRB’s) for implementing the requirements of its standards. The first objective of the FATF is to create reforms and recommendations after analysing the evolutions of the money laundering process. It created 40 recommendations of Anti Money Laundering (AML) and 9 recommendations for Countering the Financing of Terrorism (CFT) which recommendations are regularly updated.[3] Its second objective is to supervise ongoing monitoring on its 38 members through a system of Mutual Evaluation Reports (MER). [4] This evaluation is based on two areas. It assesses the enforcement of the FATF requirements within the legal system of its members which is called the “technical compliance”. [5]  The second domain evaluated is the efficiency of the legal framework against the present risk of ML and TF risk and to what extent the results are achieved which is called the “effectiveness assessment”. [6] Both fields must provide a complete analysis of the way a nation place the FATF recommendations within their legal system. The country assessed must provide their AML/CFT regime to the FATF which select a group of experts to evaluate the country. They look at the implementation of the 40 recommendations through a rating according to their level of compliance. This is made in one year before a visit to the country. During the visit, the experts write a report on the extent that the FATF standards and recommendations have been established and identify the weaknesses to determine the areas of improvement. The report is discussed during a plenary session for its acceptation and if a monitoring is necessary before its publication.
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