AML CFT Measures and Financial ...AML CFT Measures and Financial Inclusion 2013, ML, AML, aml
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//-->fatf GUIDaNCEAnti-Money Laundering andTerrorist Financing MeasuresandFinancial InclusionFebruary 2013FINANCIAL ACTION TASK FORCEand the financing of proliferation of weapons of mass destruction. The FATF Recommendations arerecognised as the global anti-money laundering (AML) and counter-terrorist financing (CFT) standard.For more information about the FATF, please visit the website:www.fatf-gafi.orgpromotes policies to protect the global financial system against money laundering, terrorist financingThe Financial Action Task Force (FATF) is an independent inter-governmental body that develops and© 2013 FATF/OECD. All rights reserved.No reproduction or translation of this publication may be made without prior written permission.Applications for such permission, for all or part of this publication, should be made tothe FATF Secretariat, 2 rue André Pascal 75775 Paris Cedex 16, France(fax: +33 1 44 30 61 37 or e-mail:contact@fatf-gafi.org).Photocredits coverphoto: ©ThinkstockAnti-money laundering and terrorist financing measures and financial inclusionFATF GuidanceContentsTABLE OF ACRONYMS............................................................................................................................................................ 3EXECUTIVE SUMMARY........................................................................................................................................................... 5INTRODUCTION – BACKGROUND AND CONTEXT...................................................................................................7Preliminary remarks ............................................................................................................................................................. 7Scope of the February 2013 Guidance Paper .............................................................................................................. 9Objectives of the Guidance .................................................................................................................................................. 9Target Audience ................................................................................................................................................................... 10Status and Content of the Guidance Paper ................................................................................................................ 10CHAPTER 1 – STATEMENT OF THE PROBLEM....................................................................................................... 12CHAPTER 2 - GUIDANCE ON ACTION TO SUPPORT FINANCIAL INCLUSION.......................................... 17I.II.III.IV.What is Financial Inclusion?............................................................................................................................................ 12State of Financial Inclusion.............................................................................................................................................. 12The Diversity of the Financially Excluded and Underserved Groups ............................................................ 13Challenges of Financial Exclusion ................................................................................................................................. 13Balancing AML/CFT Requirements and Financial Inclusion ............................................................................. 15CONCLUSION.............................................................................................................................................................................49ANNEXES..................................................................................................................................................................................... 50BIBLIOGRAPHY AND SOURCES....................................................................................................................................... 87Preliminary Remarks ........................................................................................................................................... 17Overview of the Risk-Based Approach of the FATF ................................................................................ 18Developing a risk assessment – A key step to identifying low risk and lower risksituations .................................................................................................................................................................. 19The flexibility offered by the FATF Recommendations in proven low riskscenarios: the exemptions ................................................................................................................................. 233. 1. The “proven low risk” exemption ...................................................................................................... 243.2. The“de minimis”exemption ................................................................................................................. 25The FATF Recommendations in the light of financial inclusion objectives .................................... 274.1. Customer Due Diligence (Recommendation 10) ......................................................................... 274.2. Record-keeping requirements (Recommendation 11)...................................................394.3. Suspicious transactions reporting (Recommendation 20).............................................404.4. The use of agents to carry out AML/CFT functions.........................................................414.5. Internal controls.................................................................................................................464.6. Other relevant issues........................................................................................................4820131Anti-money laundering and terrorist financing measures and financial inclusionFATF Guidance22013Anti-money laundering and terrorist financing measures and financial inclusionFATF GuidanceTABLE OF ACRONYMSAML/CFTAPGCDDDNFBPFATFFSRBGPFIININR. XKYCPEPRBASIPSTRLCCAnti-Money Laundering and Countering the Financing of TerrorismAsia-Pacific Group on Money LaunderingCustomer Due DiligenceFinancial Action Task ForceFATF-Style Regional BodyInterpretive NoteKnow Your CustomerRisk-Based ApproachDesignated Non-Financial Business or ProfessionGlobal Partnership for Financial InclusionInterpretive Note to Recommendation XPolitically Exposed PersonLow Capacity CountryStrategic Implementation PlanningSuspicious Transaction Report20133 [ Pobierz całość w formacie PDF ] |
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