Combating Money Laundering and the Financing of Terrorism: A Comprehensive Training Guide is one of the products of the Capacity Enhancement Program on Anti–Money Laundering and Combating the Funding of Terrorism (AML/CFT), which has been co-funded by the Governments of Sweden, Japan, Denmark, and Canada. The program offers countries the tools, skills, and knowledge to build and strengthen their institutional, legal, and regulatory frameworks to successfully implement their national action plan on these efforts.
Manual covers:
Module 1 introduces the fundamental concepts of money laundering and terrorist financing; their implications for development from economic, social, and governance perspectives; and existing international standards and key international players in the fight against money laundering and terrorist financing.
MODULE 2: LEGAL REQUIREMENTS TO MEET INTERNATIONAL STANDARDS
Module 2 covers satisfying the international standards on AML/CFT and the legislative action that this usually requires. In exploring those implications and possible legislative needs, this workbook answers the following questions:
• What are the international conventions and treaties that deal with AML/CFT?
• What legal and institutional arrangements satisfy international standards?
• What are the legal issues related to international cooperation?
• Where can one find model laws?
MODULE 3A: REGULATORY AND INSTITUTIONAL REQUIREMENTS FOR AML/CFT
Module 3a introduces the regulatory and institutional requirements for AML/CFT and addresses the following issues:
• Responsibility for effective supervision
• Institutions subject to AML/CFT compliance
• The principal regulatory and institutional requirements
• Internal audit and compliance programs
• Professional associations and their roles
• Enforcement of AML/CFT requirements
MODULE 3B: COMPLIANCE REQUIREMENTS FOR FINANCIAL INSTITUTIONS
Module 3b considers AML/CFT from the perspective of a bank or other financial institution and provides the necessary information for employees of such institutions who deal with a wide range of AML/CFT issues. It also provides additional inputs for compliance officers of financial institutions. A separate section of the workbook deals with some issues that are more pertinent to compliance officers.
MODULE 4: BUILDING AN EFFECTIVE FINANCIAL INTELLIGENCE UNIT
Module 4 examines the financial intelligence unit (FIU) and its role in the national AML/CFT regime and addresses the following issues:
• Basic concepts of the FIU, suspicious transaction reports, and how they fit into AML/CFT regimes
• Building FIU functionality
• Coordination and cooperation at the policy and operational levels
• Skills, integrity, and security of FIU personnel
MODULE 5: DOMESTIC (INTERAGENCY) AND INTERNATIONAL COOPERATION
Module 5 introduces the importance of interagency and international cooperation in the fight against moneylaundering activities.
MODULE 6: COMBATING THE FINANCING OF TERRORISM
Module 6 focuses on combating the financing of terrorism (CFT), a new area for many countries compared to the anti-money laundering (AML) effort. The workbook starts with a brief review of the CFT issues raised in the previous workbooks, addresses some general questions related to CFT, and then discusses the FATF Nine Special Recommendations on Terrorist Financing in combination with the international obligation of states.
MODULE 7: INVESTIGATING MONEY LAUNDERING AND TERRORIST FINANCING
Module 7 introduces the practice of investigating activities that involve laundering of the proceeds of crime and discusses investigations of terrorist financing activities.
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