The Financial Action Task Force requires countries to show that they are effectively implementing the FATF Recommendations. Preparing for an FATF assessment can be a complex and daunting task. It entails a huge workload involving research, analysis, training, interviewing, and writing and collating a large quantity of lengthy documents. FATF evaluation preparations take years.
An integral part of an FATF assessment is demonstrating that your AML/CFT supervisory process is effective. And a risk-based approach to AML/CFT supervision is essential to ensure compliance with the latest AML/CFT standards. Designing the right supervisory tools is challenging though.
What is your challenge in preparing for your country’s FATF assessment?
Looking for guidance in interpreting international standards on AML/CFT and targeted financial sanctions (TFS)? Need to know what supervisory tools are necessary for an effective risk-based approach to AML/CFT supervision? Want to find out how an FATF evaluation works? Keen to understand the ins and outs of the FATF Standards?
I can assist with
Conducting a gap analysis of your country’s existing laws and regulations.
Analysing your current onsite and offsite AML/CFT supervision process.
Developing risk-based supervisory tools and manuals.