FATF-Style Regional Bodies
FATF-Style Regional Bodies and FATF and
Associate Members
There are nine FSRBs, which have similar forms and functions to that of FATF.
They are also considered FATF associate members. In setting standards, FATF
depends on input from the FSRBs as much as from its own members;
however, FATF remains the only standard-setting body.
The following high-level principles apply to both FATF and FSRBs:
•
Role: Both FATF and FSRBs help jurisdictions implement FATF standards.
FSRBs play an essential role in identifying and addressing whatever
AML/CFT technical assistance their individual members might need. FSRBs
that coordinate technical assistance for their members also offer mutual
evaluation and follow-up processes.
•
Autonomy: FATF and FSRBs are free-standing organizations that share the
common goals of combating money laundering and the financing of
terrorism and proliferation, as well as fostering effective AML/CFT systems.
•
Sharing common objectives and working in partnership: Despite the
autonomy of FATF and the individual FSRBs, they share a common goal in
combating money laundering and the financing of terrorism and
proliferation, fostering effective AML/CFT systems, and identifying and
addressing threats to the financial system.
•
Reciprocity: FATF and FSRBs operate on the basis of (mutual, joint, or
common) recognition of their work, which implies that FSRBs and FATF put
in place similar mechanisms for effective participation and involvement in
one another’s’ activities.
•
Common interest: Because FATF and FSRBs are part of a larger whole, and
the success or failure of one organization can affect all organizations,
protection of the FATF brand is in the common interest of both FATF and
FSRBs.
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Many FATF member countries are also members of the nine FSRBs:
•
Asia/Pacific Group on Money Laundering (APG)
•
Caribbean Financial Action Task Force (CFATF)
•
Committee of Experts on the Evaluation of Anti-Money Laundering
Measures and the Financing of Terrorism (MONEYVAL, formerly PC-R-EV)
•
Eurasian Group (EAG)
•
Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG)
•
Financial Action Task Force of Latin America (GAFILAT) (formerly known as
Financial Action Task Force on Money Laundering in South America
(GAFISUD)
•
Inter-Governmental Action Group against Money Laundering in West
Africa (GIABA)
•
Middle East and North Africa Financial Action Task Force (MENAFATF)
•
Task Force on Money Laundering in Central Africa (GABAC)
Asia/Pacific Group on Money Laundering
(APG)
The APG, an autonomous regional AML body, was established in February 1997
at the Fourth Asia/Pacific Money Laundering Symposium in Bangkok, where it
adopted its Terms of Reference.
The Terms of Reference were substantially revised in July 2012 to recognize
that the FATF’s revised 40 Recommendations constituted the new
international standards on combating money laundering and the financing of
terrorism and proliferation. The Terms included a commitment that APG
members would implement these recommendations according to their
specific cultural values and constitutional frameworks. It also stipulated that, to
ensure a global approach, members of the APG would work closely with FATF.
The APG uses similar mechanisms as FATF to monitor and facilitate progress.
The APG and FATF have reciprocal rights of attendance at each other’s
meetings, as well as reciprocal sharing of documents. However, the APG, as
with other autonomous AML bodies, determines its own policies and
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practices. It is not a precondition for participation in the APG that AML/CFT
laws already be enacted.
The APG:
•
Provides a focus for cooperative AML/CFT efforts in the Asia/Pacific region
•
Provides a forum in which regional issues can be discussed and
experiences shared, and operational cooperation among member
jurisdictions is encouraged
•
Facilitates the adoption and implementation by member jurisdictions of
internationally accepted AML/CFT measures
•
Enables regional and jurisdictional factors to be taken into account in the
implementation of international AML/CFT measures
•
Encourages jurisdictions to implement AML/CFT initiatives, including more
effective mutual legal assistance
•
Coordinates and provides practical support, when possible, to member
and observer jurisdictions in the region, when requested
The APG is voluntary and cooperative in nature. The work done by the APG
and its procedures are decided by mutual agreement among its members.
The group was established by agreement among its members and is
autonomous; it is not derived from an international treaty and is not part of any
international organization.
The APG continues to grow. APG members include Afghanistan, Australia,
Bangladesh, Bhutan, the Kingdom of Brunei Darussalam, Cambodia, Canada,
China, the Cook Islands, Fiji, Hong Kong SAR (China), India, Indonesia, the
Republic of Korea (South Korea), Japan, Lao People’s Democratic Republic,
Macao SAR (China), Malaysia, Maldives, The Republic of the Marshall Islands,
Mongolia, Myanmar, Nauru, Nepal, New Zealand, Niue, Pakistan, Palau, Papua
New Guinea, Philippines, Samoa, Singapore, Solomon Islands, Sri Lanka,
Chinese Taipei, Thailand, Timor Leste, Tonga, United States of America,
Vanuatu, and Vietnam.
The APG Secretariat is headquartered in Sydney, Australia.
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Caribbean Financial Action Task Force
(CFATF)
Given its proximity to the world’s largest cocaine producers and exporters in
South America’s Andean region and one of the largest drug markets (the US),
the Caribbean basin has long been a convenient banking center for many
international criminals, including drug traffickers.
The group consists of 27 states in the Caribbean Basin and Central and South
America that have agreed to implement common countermeasures to
address the problems of money laundering, terrorist financing, and the
financing of the WMD proliferation. It was established as the result of meetings
convened in Aruba in May 1990 and Jamaica in November 1992.
The main objective of the CFATF is to achieve effective implementation of
and compliance with its recommendations to prevent and control money
laundering and combat the financing of terrorism. The Secretariat has been
established as a mechanism to monitor and encourage progress to ensure full
implementation of the Kingston Ministerial Declaration (see below).
In May 1990, representatives of Western Hemisphere countries, in particular
from the Caribbean and from Central America, convened in Aruba to develop
a common approach to the phenomenon of money laundering. Nineteen
recommendations constituting this common approach were formulated.
These recommendations, which had specific relevance to the region,
complemented the FATF’s 40 Recommendations.
The Jamaica Ministerial Meeting was held in Kingston in November 1992.
Ministers issued the Kingston Ministerial Declaration, in which they endorsed
and affirmed their governments’ commitment to implement the FATF and
Aruba Recommendations, the Organization of American States (OAS) Model
Regulations, and the 1988 UN Convention against Illicit Traffic in Narcotic Drugs
and Psychotropic Substances. They also mandated the establishment of the
Secretariat to coordinate the implementation of these recommendations by
CFATF member countries.
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The Declaration recommended laws:
•
Defining money laundering based on the model laws issued by the OAS
•
Concerning the seizure and forfeiture of drug proceeds and linked assets
that enable the identification, tracing, and evaluation of property subject to
seizure and that permit freezing orders
•
Allowing judicial challenges to seizure orders by an administrative body
•
Permitting forfeiture in all cases following conviction
•
Permitting courts to decide that “all property obtained during a prescribed
period of time by a person convicted of drug trafficking has been derived
from such criminal activity”
The Caribbean nations agreed to enter into mutual assistance agreements
with one another to assist in money laundering investigations. They also
agreed that money laundering should be an extraditable offense subject to
simplified procedures and forfeited assets should be shared among
cooperating nations.
CFATF members include Anguilla, Antigua and Barbuda, Aruba, The Bahamas,
Barbados, Belize, Bermuda, Cayman Islands, Curaçao, Dominica, El Salvador,
Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Kitts and Nevis, Saint Lucia,
Saint Maarten, Saint Vincent and the Grenadines, Suriname, Trinidad and
Tobago, Turks and Caicos Islands, Venezuela, and Virgin Islands.
The CFATF monitors members’ implementation of the anti-money laundering
recommendations. The CFATF Secretariat is hosted by the Government of
Trinidad and Tobago in the Port of Spain.
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Committee of Experts on the Evaluation of
Anti-Money Laundering Measures and the
Financing of Terrorism (MONEYVAL)
In September 1997, MONEYVAL was established by the Committee of
Ministers of the Council of Europe to conduct self- and mutual-assessment
exercises of the AML measures in place in Council of Europe member states
that were not members of FATF. MONEYVAL became an associate member
of FATF in 2006.
On October 13, 2010, the Committee of Ministers adopted the Resolution
CM/Res(2010)12 on the Statute of the Committee of Experts on the Evaluation
of Anti-Money Laundering Measures and the Financing of Terrorism
(MONEYVAL). The statute elevated MONEYVAL to an independent monitoring
mechanism within the Council of Europe, answerable directly to the
Committee of Ministers on January 1, 2011. The MONEYVAL Statute was further
amended in 2013 by the Resolution CM/ Res(2013)13.
MONEYVAL members include: Albania, Andorra, Armenia, Azerbaijan, Bosnia
and Herzegovina, Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, Gibraltar*,
Georgia, Guernsey*, Hungary, Holy See (since April 2011)*, Isle of Man*, Israel
(since January 2006)*, Jersey*, Latvia, Liechtenstein, Lithuania, Malta, Republic
of Moldova, Monaco, Montenegro, Poland, Romania, Russian Federation (also a
FATF member since 2003), San Marino, Serbia, Slovak Republic, Slovenia, North
Macedonia, and Ukraine.
*Nonmember States of the Council of Europe.
MONEYVAL is hosted by the Council of Europe in Strasbourg, France.
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Financial Action Task Force of Latin America
(GAFILAT)
The Financial Action Task Force of Latin America (GAFILAT), formerly known
as Financial Action Task Force on Money Laundering in South America
(GAFISUD), was created in December 2000 in Cartagena de Indias, Colombia,
when a memorandum of understanding was signed by government
representatives from nine countries: Argentina, Bolivia, Brazil, Chile, Colombia,
Ecuador, Paraguay, Peru, and Uruguay. Since then, several other countries
have joined as full members of the task force, including Mexico (2006), Costa
Rica and Panama (2010), Cuba (2012), Guatemala, Honduras, and Nicaragua
(2013), and the Dominican Republic (2016).
GAFILAT was created in the style of FATF and accepts its 40
Recommendations as the international standard against money laundering
and terrorist financing. It also develops enhanced recommendations to
improve national policies against those crimes.
GAFILAT supports its members in the implementation of the 40
Recommendations as national legislation and the creation of a regional
prevention system against money laundering and terrorist financing. The two
main tools are training measures and mutual evaluations.
GAFILAT members include Argentina, Bolivia, Brazil, Chile, Colombia, Costa
Rica, Cuba, Dominican Republic, Ecuador, Guatemala, Honduras, Mexico,
Nicaragua, Panama, Paraguay, Peru, and Uruguay.
GAFILAT has legal capacity and diplomatic status in the Argentine Republic
where its Secretariat is located in Buenos Aires.
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Inter-Governmental Action Group against
Money Laundering in West Africa (GIABA)
GIABA was established on December 10, 1999, by a decision of the Authority of
Heads of State and government of the Economic Community of West African
States. In January 2006, GIABA revised its mandate to fully incorporate and
properly reflect its fight against the financing of terrorism.
The objectives of GIABA are to:
•
Protect the national economies and the financial and banking systems of
signatory states against the proceeds of crime and the financing of
terrorism
•
Improve measures and intensify efforts to combat the proceeds from
crime
•
Strengthen cooperation among its members
GIABA members include Republic of Benin, Burkina Faso, Republic of Cape
Verde, Republic of Côte d’Ivoire, Republic of The Gambia, Republic of Ghana,
Guinea Bissau, Republic of Guinea, Republic of Liberia, Republic of Mali,
Republic of Niger, Federal Republic of Nigeria, São Tomé and Príncipe,
Republic of Senegal, Republic of Sierra Leone, and Togolese Republic.
GIABA’s Secretariat is located in Dakar in Senegal, West Africa.
Middle East and North Africa Financial
Action Task Force (MENAFATF)
At an inaugural ministerial meeting held in Manama, Bahrain, in November
2004, the governments of 14 countries decided to establish a FATF-style
regional body for the Middle East and North Africa. The MENAFATF is voluntary
in nature and was established by agreement among its members. It is not
derived from an international treaty. It is independent of any other
international organization and establishes its own work, rules, and procedures,
which are determined by consensus of its members. It cooperates with other
international bodies, notably FATF, to achieve its objectives.
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Member countries of MENAFATF have agreed on the following objectives and
work toward achieving them:
•
Adopt and implement FATF’s 40 Recommendations against money
laundering and terrorist financing and proliferation, as well as the related
UN Conventions and UN Security Council Resolutions as the accepted
international standards in this regard, in addition to any other standards
that are adopted by Arab states to enhance the fight against money
laundering and the financing of terrorism and proliferation in the region.
•
Implement the relevant UN treaties and agreements and UN Security
Council Resolutions regarding fighting money laundering and terrorist
financing.
•
Cooperate to raise compliance with these standards and measures within
the MENA region and work with other international organizations to raise
compliance worldwide.
•
Work together to identify regional money laundering and terrorist
financing issues, share experiences with these problems, and develop
regional solutions for dealing with them.
•
Build effective arrangements and systems throughout the region to
effectively fight money laundering and terrorist financing that do not
contradict with the cultural values, constitutional frameworks, and legal
systems of the member countries.
MENAFATF members include People’s Democratic Republic of Algeria,
Kingdom of Bahrain, Republic of Djibouti, Arab Republic of Egypt, Islamic
Republic of Mauritania, Hashemite Kingdom of Jordan, State of Kuwait, The
Lebanese Republic, State of Libya, Kingdom of Morocco, Sultanate of Oman,
State of Palestine, State of Qatar, Republic of Iraq, Kingdom of Saudi Arabia,
Federal Republic of Somalia, Republic of Sudan, Syrian Arab Republic, Republic
of Tunisia, United Arab Emirates, and Republic of Yemen.
MENAFATF is headquartered in Manama, Bahrain.
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The Eurasian Group on Combating Money
Laundering and Financing Terrorism (EAG)
The Eurasian Group (EAG) was formed in October 2004 in Moscow. The EAG
was created for the countries of the Eurasian region that are not included in
the existing FSRBs.
The primary goals of EAG are to ensure effective interaction and cooperation
at the regional level and integration of EAG member states into the
international AML/CFT system in accordance with FATF’s 40
Recommendations and the standards of other international organizations to
which EAG member states are party.
The main tasks of EAG are:
•
Assisting member states in implementing the FATF Recommendations
•
Developing and conducting joint activities aimed at combating money
laundering and terrorist financing
•
Implementing a program of mutual evaluations of member states based
on the FATF Recommendations, including assessment of the effectiveness
of legislative and other measures adopted in the sphere of AML/CFT
efforts
•
Coordinating international cooperation and technical assistance programs
with specialized international organizations, bodies, and interested states
•
Analyzing money laundering and terrorist financing trends (typologies) and
exchanging best practices of combating such crimes, taking into account
regional specifics
The EAG members include Republic of Belarus, China, Republic of India,
Republic of Kazakhstan, Kyrgyz Republic, Russian Federation, Republic of
Tajikistan, Turkmenistan, and Republic of Uzbekistan.
The EAG is headquartered in Moscow, Russian Federation.
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Eastern and Southern African Anti-Money
Laundering Group (ESAAMLG)
The Eastern and Southern African Anti-Money Laundering Group (ESAAMLG)
is an intergovernmental body with a mandate to promote the effective
implementation of legal, regulatory, and operational measures for combating
money laundering, terrorist financing, and other threats to the integrity of the
international financial system.
Launched in Tanzania in 1999, current membership in the ESAAMLG
comprises 19 countries: Angola, Botswana, Eritrea, Eswatini, Ethiopia, Kenya,
Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Rwanda,
Seychelles, South Africa, Tanzania, Uganda, Zambia, and Zimbabwe.
The main decision-making body of the ESAAMLG is the Council of Ministers,
which comprises state member ministers who manage financial matters. The
group developed a Memorandum of Understanding among its member
countries, in which they agreed to:
•
Adopt and implement the 40 FATF Recommendations
•
Apply AML measures to all serious crimes
•
Implement measures to combat the financing of terrorism
•
Implement any other measures contained in multilateral agreements and
initiatives to which they subscribe for the prevention and control of the
laundering of the proceeds of all serious crimes and the financing of
terrorist activities
Region-specific projects and studies are also undertaken by the ESAAMLG.
For example, a project was initiated in 2014 to obtain information, statistics,
and trends related to wildlife poaching, illegal trade in wildlife products, and
associated money laundering. Building from these efforts, further study of
money laundering and the illegal wildlife trade has been published by FATF,
including red flags such as transfers between shell companies and wildlife
organizations and corruption of PEPs.
ESAAMLG is headquartered in Dar es Salaam, Tanzania.
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Task Force on Money Laundering in Central
Africa (GABAC)
The Task Force on Money Laundering in Central Africa known as Groupe
d’Action contre le Blanchiment d’Argent en Afrique Centrale (GABAC) is a
body of the Economic and Monetary Community of Central Africa. Established
in 2000, its mandate is to combat money laundering and terrorist financing,
assess the compliance of its members against FATF standards, provide
technical assistance to its member states and facilitate international
cooperation. In February 2012, GABAC became an observer organization of
FATF. In October 2015, FATF recognized GABAC as an FSRB and admitted it as
an Associate Member.
GABAC members include Cameroon, Central African Republic, Chad, Congo,
Democratic Republic of the Congo, Equatorial Guinea, and Gabon.
GABAC is headquartered Libreville, Gabon.
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