The IMF and the Fight Against Money Laundering and the Financing of Terrorism, A Factsheet

Press Information Notice: IMF Advances Efforts to Combat Money Laundering and Terrorist Finance
August 8, 2002

Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Progress Reports

More on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT)


Anti-Money Laundering And Combating Financing of Terrorism (AML/CFT)
Materials Concerning Staff Progress Towards the Development of a Comprehensive AML/CFT Methodology and Assessment Process

Joint Progress Report on the Work of the IMF and World Bank

June 11, 2002

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Contents

Abbreviations
I. Introduction
II. Guidance to Staff on a Comprehensive AML/CFT Methodology and Assessment Process
III. Towards a Comprehensive Methodology and Assessment Process
IV. Unresolved Issues
  A. Fund/Bank Coverage of AML/CFT Assessments
      Approach I
      Approach II
  B. Way Forward for Conducting AML/CFT Assessments and Preparing ROSCs
Attachments
I. Comprehensive AML/CFT Methodology
II. Options for Conducting an AML/CFT Assessment and Preparing a ROSC
III. Fund and Bank Mandate and Expertise
Tables
1. Matrix of AML/CFT Methodology Assessment Areas
2. Comparison of Options for Preparing AML/CFT Assessments
Boxes
1. Movement of Criteria Regarding Rules in Force from Annex II to Annex I, Part 1
2. Extension of FATF Recommendations to Service Providers outside the Financial Sector
3. Tests for Determining Fund and Bank Involvement in Assessing AML/CFT Compliance
Annexes
I. Fund and Bank Methodology for Assessing Legal, Institutional, and Supervisory/Regulatory Aspects of Anti-Money Laundering
II. Assessment of Implementation of Legal and Institutional Elements Outside of the Supervisory or Regulatory Framework