3.1. Key institutions of a national aml/cft regime
Dissemination of information on persons who are suspected of money laundering or the financing of terrorism
Compilation of money laundering and terrorist financing typologies for use by the private sector
Analysis of information in the FIU’s database
Law enforcement and investigative authorities
Investigation and field operations, e.G. Making searches, taking witness statements
Other information relevant to money laundering, predicate offences and terrorist financing
Requests of information on suspected money launderers and financiers of terrorism
Financial intelligence unit (FIU)
Disseminating suspicious transactions reports (STRs) on operations or activities of customers with probable relation to money laundering or the financing of terrorism
Gathering evidence, preparing criminal charges, entering a lawsuit
Obtaining additional information on customers and their activities by FIU’s request
Prosecution
Judge
Financial institutions
Trial
Designated non-financial businesses and professions (DNFBPs)
Activities or operations for or on behalf of a customer
Defense
Analysis of information
Regulatory and supervisory agencies
A verdict of guilty leads to a sentence
Undertaking customer due diligence (CDD)
Record-keeping
Money launderers
Law-abiding clients
Financiers of terrorism
3.2. Methodology bases of a risk-based approach and national coordination
Identify
Money laundering
Risks for a country
Take action
Assess
Terrorist financing
Designate
Mitigate
Understand
Apply resources
Authority
Mechanism
Policies should be regularly reviewed
Efficient allocation of limited resources
AML/CFT regime
Across
Risk-based approach (RBA), R. 1
Ensures that
Measures
To prevent
To mitigate
Money laundering
Are commeasurable with
Terrorist financing
The risks identified
Higher risks
The AML/CFT regime has an adequate address
Simplified measures
Lower risks
DNFBPs
Required to be used by
Financial institutions
Regulatory and supervisory agencies
Policy-makers
FIU
Law enforcement authorities
Policy-making level
Operational level
There have to be effective mechanisms of cooperation and coordination, R. 2
Policies
Activities
Money laundering
To combat
Development
Terrorist financing