Design and implementation of a capacity development program – experience with combating money laundering and financing of terrorism in Mongolia

Png, Cheong‐Ann; DeFeo, Michael A.; Hicks, Tristram

doi:10.1108/jmlc-02-2015-0006

Cited by 2 publications

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“…FATF methodology for assessing compliance with the FATF Recommendations and the effectiveness of AML/CFT systems (fatf-gafi.org). (Png et al, 2015).…”

Section: Mutual Evaluations (Fatf-gafiorg)mentioning

confidence: 99%

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FIU operational effectiveness – findings and observations from the Asian Development Bank perspective

Png

2024

JMLC

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Purpose This paper aims to examine the specific findings on the level of technical compliance and operational effectiveness of the national financial intelligence units (FIUs) in 55 members of the Asian Development Bank (ADB) under the mutual evaluations carried out by the Financial Action Task Force (FATF) and its regional bodies (also referred to as FATF-style regional bodies) in connection with the current international standard for combating money laundering and terrorism financing (i.e. the FATF recommendations). It also provides three observations for enhancing the use of financial information and intelligence. Design/methodology/approach Review of published reports on country mutual evaluations from the FATF and its regional bodies. Findings A majority of the FIUs from these 55 members of the ADB were rated around the “mid-range” under the FATF methodology used for the mutual evaluations (i.e. “compliant and substantially effective”, “largely compliant and substantially effective”, “compliant and moderately effective” and “largely compliant and moderately effective”). Observations were also provided on cross-cutting areas for enhancing the use of financial information and intelligence. Originality/value FIU operations are key to combating money laundering and terrorism financing, and this examination of the level of technical compliance with the international standard and related operational effectiveness provides an useful account of current developments in this space and suggestions for further actions by relevant national authorities and provision of country technical assistance and support by donor partners.

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“…FATF methodology for assessing compliance with the FATF Recommendations and the effectiveness of AML/CFT systems (fatf-gafi.org). (Png et al, 2015).…”

Section: Mutual Evaluations (Fatf-gafiorg)mentioning

confidence: 99%

“…14. Law and Policy Reform Program: Effective Legal Systems for Sustainable Development (adb.org) For an example of an ADB technical assistance program, see (Png et al. , 2015).…”

Section: Notesmentioning

confidence: 99%