WORKING GLOBALLY

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IDENTIFYING GAPS

CUSTOMIZING FRAMEWORKS

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ACHIEVING FULL COMPLIANCE

  Capacity Building of National Stakeholder

The Financial Action Task Force increasingly focuses on the effectiveness of national AML/CFT frameworks. Stakeholders are thus increasingly in the spotlight and have to prove that they effectively implement their mandate and contribute to the desired outcome on the national level, which is a reduction of illicit transnational flows through the financial or non-financial sectors. We work with all authorities and agencies with competences in AML/CFT, whether their role is in supervision, law enforcement or other aspects such as policy, legal drafting, sanctions frameworks, NPOs etc.

The functions which most commonly request our assistance are:

AML/CFT Supervision

For financial and non-financial supervisory authorities to enhance their capacity to carry out risk-based AML and CFT supervision, they require a wide range of specialized tools. These tools must allow for a risk rating of each supervised entity and ensure that appropriate supervisory measures are applied. Finite supervisory resources can be more efficiently allocated based on a given risk landscape for each financial or non-financial sector.
FTA assists supervisory authorities in all aspects of their work, including the development of:

  • Risk-based supervisory tools, including risk matrices and associated data collection tools
  • Risk-based onsite inspection procedures
  • Risk-based supervisory strategies and onsite inspection plans
  • Regulatory guidance documents to assist financial institutions and designated non-financial businesses and professions in complying with their legal obligations
Law Enforcement

Criminal conduct investigations have evolved to include financial investigations. While classic crime investigations are usually based on tangible evidence such as weapons, DNA traces, surveillance tapes, etc., financial crime is investigated mostly based on documents and transaction records. For law enforcement, this type of investigation often poses a significant challenge as the investigative skillset required is entirely different from that required in classic crime investigations.
FTA works with a range of advisors that are highly specialized in financial crime investigations and the tracing of assets. Together, our financial investigation experts, prosecutors, and forensic accountants, are well positioned to offer capacity development for investigators, prosecutors, and judges involved in financial investigations of complex money laundering or terrorism financing cases. The services we offer in this area include:

  • Skills-based training for law enforcement and prosecutors aimed at enhancing their ability to obtain and analyze financial evidence, including bank statements, SWIFT records, and company documents
  • Development of relevant operational manuals and procedures
  • Development of interagency cooperation procedures
  • Assistance with appropriate statistic collection mechanisms for law enforcement and prosecution services
Financial Intelligence Units

Financial Intelligence Units (FIUs) play a key role in any national AML/CFT system. They have access to the widest range of information and are thus uniquely positioned to facilitate law enforcement’s efforts to identify, trace and secure proceeds of crime and convict money launderers and terrorism financers. At the same time, FIUs guide financial and non-financial institutions in how to effectively apply preventive measures to their customers and business relationships. An FIU with strong analytical and strategic analysis capability thus has potential to make all aspects of a national AML/CFT framework more effective.
FTA assists FIUs with enhancing their capacity to implement their core functions of receiving and analyzing suspicious transaction reports and disseminating the results of this analysis to relevant authorities with competences in AML/CFT. Services offered include:

  • Skills training for financial and strategic analyses
  • Development of the FIU’s internal work procedures and relevant operational and analysis manuals
  • Development of red flag indicators and guidance documents for financial and non-financial businesses and professions to enhance the effectiveness of suspicious transaction reporting