Mutual Evaluation of Qatar
This assessment of the anti-money laundering (AML) and combating the financing of terrorism (CFT) regime of the State of Qatar is based on the Forty Recommendations 2003 and the Nine Special Recommendations on Terrorist Financing 2001 of the Financial Action Task Force (FATF) as amended, and was prepared using the AML/CFT assessment Methodology 2004, as updated in February 2007. The assessment team considered all the materials supplied by the authorities, the information obtained on site during its visit from February 4, 2007 to February 20, 2007, and other verifiable information subsequently provided by the authorities. During the mission, the assessment team met with officials and representatives of all relevant government agencies and the private sector. A list of the bodies met is set out in Annex 1 to the detailed assessment report.
The assessors reviewed the institutional framework, the relevant AML/CFT laws, regulations, guidelines and other requirements, and the regulatory and other systems in place to deter and punish money laundering (ML) and the financing of terrorism (FT) through financial institutions and Designated Non-Financial Businesses and Professions (DNFBP). The assessors also examined the capacity, implementation, and effectiveness of all these systems.
This report provides a summary of the AML/CFT measures in place in the State of Qatar at the time of the mission or shortly thereafter. It describes and analyzes those measures, sets out the State of Qatar’s levels of compliance with the FATF 40+9 Recommendations and provides recommendations on how certain aspects of the system could be strengthened.