Georgia: Report on Observance of Standards and Codes—FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

IMF Staff Country Reports, January 8, 2013

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Canonical URL: Georgia: Report on Observance of Standards and Codes—FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

The report assesses observance of the FATF 40 recommendations for anti-money laundering (AML) and the special recommendations on combating the financing of terrorism (CFT).
The government of Georgia indicated that the recommendations of the report have already been put into an action plan to implement appropriate corrective measures.
Executive Directors approve that the regime has significantly improved since the last assessment.
The report states that weaknesses with regard to compliance with key elements of the standard should be urgently addressed in light of significant vulnerabilities and threats.

The government has an action plan to implement the report’s recommendations.
Urgent attention is required to address weaknesses in compliance with key elements of the FATF standard due to significant vulnerabilities and threats.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, Digital currencies, Legal support in revenue administration, Money laundering, Revenue administration, Technology, Terrorism financing
Keywords: AML compliance officer, AML Law, AML officer, Anti-Money Laundering, Anti-money laundering and combating the financing of terrorism (AML/CFT), Anti-Money Laundering measure, CFT, CR, Digital currencies, financial institution, FT offense, ISCR, Legal support in revenue administration, ML offense, Money laundering, offense, predicate crime, Terrorism financing