The Caribbean Financial Action Task Force (CFATF) is an organization of states and territories of the Caribbean Basin that have agreed to implement common counter-measures against money laundering. CFATF has associate status within the Financial Action Task Force on Money Laundering (FATF). [1] [2]
The CFATF was established as the result of two key meetings convened in Aruba in and Jamaica. [3] [4] In Aruba in 1990 representatives of Caribbean and Central American countries developed a general approach to the problem of the laundering of criminal proceeds and made 19 recommendations. [5] [6]
A meeting of ministers held in Kingston, Jamaica, in 1992, resulted in the Kingston Declaration, endorsing the commitment of the member states to implementing the recommendations and coordinating the implementation through establishment of the CFATF Secretariat. [6] [3]
Members of CFATF are: [7]
The Association of Caribbean States is an advisory association of nations centered on the Caribbean Basin. It was formed with the aim of promoting consultation, cooperation, and concerted action among all the countries of the Caribbean coastal area. The 5 main purposes of the ACS is to promote greater trade between the nations, enhance transportation, develop sustainable tourism, facilitate greater and more effective responses to local natural disasters, and to preserve and conserve the Caribbean Sea.
The Financial Action Task Force (on Money Laundering) ('FATF, aka "Fatiff"), also known by its French name, Groupe d'action financière (GAFI), is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat money laundering and to maintain certain interest. In 2001, its mandate was expanded to include terrorism financing. The FATF Secretariat is administratively hosted at the OECD in Paris, but the two organisations are separate.
Australian Transaction Reports and Analysis Centre (AUSTRAC) is an Australian government financial intelligence agency responsible for monitoring financial transactions to identify money laundering, organised crime, tax evasion, welfare fraud and terrorism financing. AUSTRAC was established in 1989 under the Financial Transaction Reports Act 1988. It implements in Australia the recommendations of the Financial Action Task Force on Money Laundering (FATF), which Australia joined in 1990.
Anti–money laundering (AML) refers to a set of policies and practices to ensure that financial institutions and other regulated entities prevent, detect, and report financial crime and especially money laundering activities. Anti–money laundering is often paired with combating the financing of terrorism, using the initialism AML/CFT. In addition to arrangements intended to ensure that banks and other relevant firms duly report suspicious transactions, the AML policy framework includes financial intelligence units and relevant law enforcement operations.
Terrorism financing is the provision of funds or providing financial support to individual terrorists or non-state actors.
The Financial Action Task Force blacklist, is a blacklist maintained by the Financial Action Task Force.
The Regional Security System (RSS) is an international agreement for the defence and security of the eastern Caribbean region with future expansion planned with South America.
A financial intelligence unit (FIU) is a national body or government agency or international organization which collect information on suspicious or unusual financial activity from the financial industry and other entities or professions required to report suspicious transactions, suspected of being money laundering or terrorism financing.
Financial crime is crime committed against property, involving the unlawful conversion of the ownership of property to one's own personal use and benefit. Financial crimes may involve fraud ; theft; scams or confidence tricks; tax evasion; bribery; sedition; embezzlement; identity theft; money laundering; and forgery and counterfeiting, including the production of counterfeit money and consumer goods.
The Caribbean Tourism Organization's main objective is the development of sustainable tourism for the economic and social benefit of Caribbean people.
In financial regulation, a politically exposed person (PEP) is one who has been entrusted with a prominent public function. A PEP generally presents a higher risk for potential involvement in bribery and corruption by virtue of their position and the influence they may hold. The terms "politically exposed person" and senior foreign political figure are often used interchangeably, particularly in international forums.
The Asia/Pacific Group on Money Laundering (APG) is a FATF-style regional inter-governmental (international) body, the members of which are committed to effectively implementing the international standards against money laundering, combating the financing of terrorism (CFT) and financing the proliferation of weapons of mass destruction. APG was founded in 1997 in Bangkok, Thailand, and currently consists of 42 member jurisdictions in the Asia-Pacific region and a number of observer jurisdictions and international/regional observer organisations.
Some decisions, actions or reports made at or by the Organisation for Economic Co-operation and Development (OECD) have raised controversy.
The Global Forum on Transparency and Exchange of Information for Tax Purposes was founded in 2000 and restructured in September 2009. It consists of OECD member countries as well as other jurisdictions that have agreed to implement tax related transparency and information exchange. The forum works under the auspices of the OECD and G20. Its mission is to "implement the international standard through two phases of peer review process". It addresses tax evasion, tax havens, offshore financial centres, tax information exchange agreements, double taxation and money laundering.
Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) is a specialised institution of the Economic Community of West African States responsible for facilitating the adoption and implementation of Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) in West Africa. It is also the FATF Style Regional Body (FSRB) in West Africa and works with states in the region to ensure compliance with international AML/CFT standards. GIABA was established in 2000 and has its headquarters in Dakar, Senegal. GIABA consists of 17 member states.
MONEYVAL is the official denomination of the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism. It is a permanent monitoring body of the Council of Europe, with 35 member states and jurisdictions out of which 32 are assessed exclusively by MONEYVAL.
The Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism, also known as the Warsaw Convention or CETS 198, is a Council of Europe convention which aims to facilitate international co-operation and mutual assistance in investigating crime and tracking down, seizing and confiscating the proceeds thereof.
The Qatar Financial Information Unit (QFIU) is a Qatari government regulatory agency responsible for financial intelligence efforts to combat money laundering and financing of terrorism. Like other national Financial Intelligence Units (FIU) around the world, it requires banks, investment companies, insurers and other financial institutions to report suspicious financial transactions. QFIU then analyzes the information and disseminates the relevant data to law enforcement authorities for further investigation and action.
The Caribbean Postal Union (CPU) is an association established by treaty of the postal authorities of the following member countries: The bloc was established with the assistance of the European Union for member-states of CARIFORUM as part of the bloc of the African, Caribbean, and Pacific Group of States.
The Executive Service of the Commission for the Prevention of Money Laundering and Monetary Offenses is the financial intelligence unit (FIU) of the Spanish Ministry of Economy. As FIU, the Sepblac is the supervisory authority for the prevention of money laundering and the financing of terrorism and the execution of sanctions and financial countermeasures of the 2010 Prevention of Money Laundering and the Financing of Terrorism Act. Since 30 October 2020, the director of the Executive Service is Pedro Manuel Comín Rodríguez.
| International | |
|---|---|
| National | |
 | This finance-related article is a stub. You can help Wikipedia by expanding it. |
 | This law enforcement–related article is a stub. You can help Wikipedia by expanding it. |
