What are FATF typologies?

The Proliferation Finance Typology Project develops an understanding of the issues surrounding proliferation financing and provides information that can be used by the FATF to assess the need for policy measures to counter proliferation financing.

What are typologies in AML?

Gatekeepers are used to obscure the identity of beneficiaries and the source of illicit funds. This may also include corrupt professionals who offer ‘specialist’ money laundering services to criminals.

How many recommendation were made by FATF?

The FATF’s Forty Recommendations on money laundering of 1990 are the primary policies issued by FATF and the Nine Special Recommendations (SR) on Terrorism Financing (TF).

What does FATF MER stand for?

The completion of an assessment and the publication of the mutual evaluation report (MER) is a starting point for the country to continue strengthening its measures to tackle money laundering and terrorist financing. The country subsequently reports back to the FATF on a regular basis on the progress it has made.

What are types of money laundering?

How Dirty Money is Laundered: Three Stages of Laundering

• Placement. The initial stage of money laundering – Placement – occurs when the launderer introduces their illegal profits into the financial system.
• Layering.
• Integration.

What is a Smurf in money laundering?

Smurfing is a money-laundering technique involving the structuring of large amounts of cash into multiple small transactions. Smurfs often spread these small transactions over many different accounts, to keep them under regulatory reporting limits and avoid detection.

What are the 3 stages of AML?

Money laundering typically includes three stages: placement, layering and integration stage.

What are the 3 stages of anti-money laundering?

Anti-Money Laundering (AML) is a set of policies, procedures, and technologies that prevents money laundering. There are three major steps in money laundering (placement, layering, and integration), and various controls are put in place to monitor suspicious activity that could be involved in money laundering.

Who is the president of FATF?

President Dr Marcus Pleyer
Announcing the decision, FATF President Dr Marcus Pleyer said: “Pakistan has made significant measures and it has largely addressed 26 out of 27 measures.”

Who are the members of FATF?

Which jurisdictions are members of the FATF? There are currently 39 members of the FATF; 37 jurisdictions and 2 regional organisations (the Gulf Cooperation Council and the European Commission). These 39 Members are at the core of global efforts to combat money laundering and terrorist financing.

Which is the best description of the FATF report?

FATF Report. Financial Flows from Human Trafficking (July 2018) FATF Report. Financing of Recruitment for Terrorist Purposes (January 2018) FATF Report. Money Laundering Through the Physical Transportation of Cash (October 2015) FATF Report. Money laundering / terrorist financing risks and vulnerabilities associated with gold (July 2015)

When did the FATF release the tbml report?

In 2006 the FATF released the report entitled Trade-Based Money Laundering (TBML), in which it identified the three major methods used by criminal organisations and terrorist financers to move money for the purpose of disguising its origins and integrating it into the formal economy.

Where can I find FATF methods and trends?

FATF Methods and Trends publications are available on the FATF website. FATF Report. Trade-based Money Laundering: Trends and Developments (December 2020) FATF Report.

Is there a FATF report on trade based money laundering?

The Asia/Pacific Group (APG) Typologies Report on Trade-Based Money Launderingaims to update and extend the FATF study to identify current methods and techniques as well as to consider why so few TBML case investigations or prosecutions have been undertaken since the 2006 report.