Third Round of AML/CFT Mutual Evaluations - Process and Procedures

Third Round of AML/CFT Mutual Evaluations - Process and Procedures

Process and Procedures

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The FATF conducted a third round of mutual evaluations for its members based on the FATF Forty Recommendations 2003 and the Nine Special Recommendations on Terrorist Financing 2001, and using the AML/CFT Methodology 2004, as amended from time to time.

This document sets out the process and procedures that are the basis for the third round of mutual evaluations, and covers the following issues:

a) the underlying scope, objectives and principles;
b) changes in the FATF standards;
c) the evaluation schedule;
d) the procedures and steps in the evaluation process;
e) processes for follow-up of mutual evaluations;
f) joint evaluations; and
g) IFI assessments of FATF members and co-ordination with the FSAP process.

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