6. Institutional bases of the international AML/CFT framework

•List the main groups of AML/CFT advisory services rendered by the United Nations Office on Drugs and Crime.

•When did International Monetary Fund get engaged in AML/CFT?

•List the main directions of AML/CFT technical assistance provided by the World Bank.

•In which areas of AML/CFT does the Financial Market Integrity Group implement its policy development programs?

•Why is it so important to create country-specific laws on AML/CFT? Which organizations provide such technical assistance?

•How was the G8 involved in establishment of the FATF?

•What is the FATF mandate?

•How is the FATF presidency organized?

•List three major main activities of the FATF.

•What is common in countries that are the FATF members?

•What does the FATF do with high-risk jurisdictions?

•Why is it so important to study ML and TF methods and trends?

•What activities are the FSRBs engaged in?

•What specific function do the FATF observers have in common?

•List the main types of areas of work that the FATF observers can be grouped by.

•What is the reason for creating FATF-style regional bodies?

•What is the mission of the Egmont Group?

•What is the Egmont Secure Web and what does it allow to facilitate?

•In what three areas of work is the Egmont Group engaged?

•List the main AML/CFT-related documents adopted by the Basel Committee on Banking Supervision.

•Which international organization has compiled AML/CFT guidelines for the securities sector?

•Which international organization has issued guidance papers on money laundering prevention in the insurance sector?

•What is distinctive regarding the ownership of the Wolfsberg group members?

•List the most important AML/CFT documents adopted by the Wolfsberg group.

•Which areas were covered by the AML/CFT “frequently asked questions” series, published the Wolfsberg group?

•Name the organization that issued the Anti-money laundering principles for private banking (revised in 2012).

•List the main principles outlined in the Anti-money laundering principles for private banking (revised in 2012).

•Which areas of work are covered in the Anti-corruption guidance, released by the Wolfsberg group in 2011?

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6.1. The United Nations bodies of the international AML/CFT framework

1. The United Nations Security Council (UNSC)

Its powers include the establishment of peacekeeping operations and international sanctions. The UNSC exercised its AML/CFT-related powers through resolutions that cover the initiatives on combating the financing of terrorism. The resolutions adopted under Chapter VII of the Charter of the UN are legally binding to all UN member states.

The UNSC Counter-Terrorism Committee (CTC) was established after

September 11, 2001. The CTC was tasked with monitoring the implementation of UNSC resolution 1373 (2001).

The Counter-Terrorism Committee Executive Directorate (CTED) was established in 2004 to assist the work of CTC and to coordinate the process of monitoring the implementation of UNSC resolution 1373 (2001).

Advisory services:

•reviewing legal and institutional frameworks

•assisting in the drafting or upgrading of legislation

•ensuring that the necessary mechanisms against money-laundering and the financing of terrorism are in place and are efficiently implemented

•developing of specific national and regional institutions, in particular the development of financial intelligence units

•raising the awareness, understanding and implementation of best practices in the regulation of financial services

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