Long abstract

The FATF held this year’s meeting of experts on money laundering typologies on 19 and 20 November 2001. The meeting took place in Wellington, New Zealand under the chairmanship of Detective Superintendent Bill Bishop, Police National Crime Manager, New Zealand.

In early September 2001, the FATF agreed on a series of topics for the FATF-XIII typologies exercise. Following the September 11th terrorist attacks in the United States, the FATF revised its remit to include terrorist financing and modified the programme for the typologies exercise to include this topic. Besides this additional specialised topic then, this year’s exercise examined money laundering issues as related to correspondent banking, private banking and “politically exposed
persons”, bearer shares and other negotiable instruments, co-ordination among organised crime groups and the introduction of euro in banknote and coin form. As a final theme for the exercise, FATF members also began a first comprehensive study of the relationship between suspicious transaction reports (STRs) and money laundering cases.