International Groups for Money Laundering Regulations

APG = Asia Pacific and beyond FATF = Global including Europe and Arab Gulf Moneyval = Mainly Europe with some Middle East MENA = Middle East and North Africa

Effectiveness = Assessment of country's measures in producing results Technical compliance = Focus of a site visit by experts to the assessed country

Assessment team visit = To gather evidence that country's measures are effective

<p>Exposure to crime = Determines what is expected from the country</p> Signup and view all the answers

<p>Gray list = Identifies countries actively working to address strategic short comings Black list = List of countries with serious strategic short comings Enhanced review = Country committed to correcting identified strategic short comings promptly Action plan = Includes clear measures and deadlines for improving anti-money laundering system</p> Signup and view all the answers

<p>Being placed on a gray or black list = Could result in economic damage to a country High risk country identified = All members urged to apply increased due diligence FATF assesses significant progress = Follow-up report confirming progress and possibly removing from lists Country develops action plan = Must address identified short comings and implement measures</p> Signup and view all the answers

<p>Once per few years to once per ten years = Frequency of country evaluations by FATF Enhanced review = Country subject to this when committed to correcting identified strategic short comings Regular reporting by country concerned = Steps taken after submission of action plan are reported Follow-up report = Published when significant progress in addressing short comings is made</p> Signup and view all the answers

<p>Financial Action Task Force (FATF) = Foundation to fight financial economic crime Organization under Increased monitoring (gray list) = Countries actively working with FATF to address strategic short comings Call for action country list (blacklist) = List of countries with serious strategic short comings Countermeasures against high risk country = Taken by other countries to protect international financial system</p> Signup and view all the answers