11. Competent authorities of a national AML/CFT system

KEY QUESTIONS

•What is the main characteristic of resources that national agencies of the AML/CFT system are required to have?

•What should assure the IT systems used by AML/CFT agencies?

•Why are national agencies of the AML/CFT system required to have sufficient operational independence?

•List the professional standards that the staff of national agencies with the AML/CFT function are required to have.

•Why is it necessary to maintain comprehensive statistics on matters relevant to the functioning of the national AML/CFT system?

•List the four major groups of statistics on matters relevant to the national

AML/CFT system.

•What can statistics on property frozen, seized and confiscated tell about the national AML/CFT system?

•In what main area can the guidelines established by national AML/CFT authorities assist private entities?

•Why is it necessary to provide feedback from private entities and their selfregulatory bodies?

•What is the purpose of regulation and supervision on AML/CFT matters?

•Which approach should AML/CFT regulators and supervisors use when performing their duties? Why?

•List three groups of actions that regulators and supervisors should be authorized to perform.

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•Name a group of organizations that can also be permitted to regulate and supervise compliance of DNFBPs. Explain the reasons for such permission.

•List the sanctions that can be imposed on private entities for non-compliance with AML/CFT regulations.

•Define the three main functions of the FIU.

•List four groups of information recourses that the FIU should have access to.

•Why is it necessary for the FIU to have access to the widest range of information?

•Which two types of information analysis can the FIU undertake? Define them.

•What is the purpose of the FIU’s operational analysis? Give an example.

•Define the goal of strategic analysis undertaken by the FIU.

•Compare the role of software and manual data processing in the analytical function of the FIU.

•List two groups of information dissemination performed by the FIU.

•For which two types of investigations related to ML and TF should law enforcement authorities have responsibility?

•What is a pro-active parallel financial investigation?

•When should a pro-active parallel financial investigation be developed?

•List the objectives of financial investigations developed by law enforcement authorities.

•Why is it necessary to trace the proceeds from crime during the development of financial investigations?

•Why should countries set forth measures to detect the physical cross-border transportation of currency?

•Which FATF Recommendation establishes measures for the detection of physical cross-border transportation of currency? List these measures.

•What should competent authorities be able to do with cash and BNIs in case of a false declaration/disclosure?

•To which agency should cash courier information be made available?

•Are precious metals and precious stones covered by measures to detect the physical cross-border transportation of currency? Why?

•What is the maximum threshold used for detection of cross-border cash couriers? List the reasons for establishing such threshold.

•Define the disclosure system used for detection of cross-border cash couriers.

•Compare two types of written declaration systems for all travelers.

•What is an oral declaration system for all travelers?

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