5 Dec 2013
Speech; FATF President; Vladimir Nechaeve; MENAFATF
The Middle East and North Africa Financial Action Task Force (MENAFATF) is working towards the application of consistent and rules-based arrangements for the follow-up process to mutual evaluations. In his speech to the MENAFATF Plenary in Bahrain, FATF President Vladimir Nechaev welcomed the progress made by MENAFATF in this area. He stressed that a strong and rigorous long-term follow-up process is key to improving national systems for combating money laundering and terrorist financing. During his remarks at the Plenary, Mr Nechaev also highlighted recent changes and further challenges ahead for the FATF Global Network.
3 Dec 2013
Typologies; Hawala; HOSSP
Hawalas and other similar service providers (HOSSPs) arrange for transfer and receipt of funds or equivalent value and settle through trade, cash, and net settlement over a long period of time. What makes them distinct from other money transmitters is their use of non-bank settlement methods. This typology report looks at the extent of their vulnerability to money laundering and terrorist financing.
21 Nov 2013
CFATF; public statement
The Caribbean Financial Action Task Force has identified Belize and Guyana, as jurisdictions with strategic AML/CFT deficiencies that pose a risk to the international financial system. Belize and Guyana are subject a call by CFATF on its members and other jurisdictions to apply counter-measures to protect the international financial system from the on-going and substantial money laundering and terrorist financing (ML/TF) risks emanating from these countries. Domenica has made sufficient progress in addressing deficiencies since the public statement of May 2013.
20 Nov 2013
CFATF; FATF President; Vladimir Nechaev; speech
FATF President Vladimir Nechaev congratulates CFATF with the results of the reform process it started three years ago. As a result of its efforts, CFATF has overcome challenges that it previously faced in a manner that should ensure that the reforms are lasting. In his remarks at the CFATF Plenary Meeting, Mr. Nechaev also set out future priorities for the FATF Global Network, in particular the fourth round of assessments and the resources that are needed by all assessment bodies to ensure quality and consistency of assessments.
18 Nov 2013
UN; FATF President; Vladimir Nechaev; Speech
The FATF Recommendations elaborate on financial aspects contained in United Nations instruments such as UN conventions and UN Security Council Resolutions and help countries implement these requirements. At an open briefing by UN Security Council Sanctions Committees and the FATF, Mr Vladimir Nechaev, FATF President, highlighted how the connection between the FATF and the UN has been further strengthened by UN Security Council Resolutions and revisions to the FATF Standards and assessment methodology.