Reference Guide to Anti-Money Laundering and Combating the Financing of Terrorism : Second Edition and Supplement on Special Recommendation IX
Efforts to launder money and finance terrorism have been evolving rapidly in recent years in response to heightened countermeasures. The international community has witnessed the use of increasingly sophisticated methods to move illicit funds throu...
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| Format: | Publication |
| Language: | English en_US |
| Published: |
Washington, DC: World Bank
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2006/01/6561892/reference-guide-anti-money-laundering-combating-financing-terrorism-second-edition-supplement-special-recommendation-ix http://hdl.handle.net/10986/6977 |
| Summary: | Efforts to launder money and finance
terrorism have been evolving rapidly in recent years in
response to heightened countermeasures. The international
community has witnessed the use of increasingly
sophisticated methods to move illicit funds through
financial systems across the globe and has acknowledged the
need for improved multilateral cooperation to fight these
criminal activities. This second edition is to serve as a
single, comprehensive source of practical information for
countries to fight money laundering and terrorist financing.
It discusses the problems caused by these crimes, the
specific actions countries need to take to address them and
the role international organizations play in the process.
The report is organized as follows: Part A of this Reference
Guide describes the problem of money laundering and
terrorist financing, their adverse consequences, and the
benefits of an effective regime. It also identifies the
relevant international standard-setting organizations and
discusses their specific efforts and instruments that fight
these activities. Part B describes the various elements that
are part of a comprehensive legal and institutional
framework for anti-money laundering and combating the
financing of terrorism for any country. This part of the
Reference Guide is a step-by-step approach to achieve
compliance with international standards, although it does
not dictate the specific methods or actions to be adopted.
Rather, it raises the issues that must be addressed and
discusses the options that a country has in order to resolve
these issues. Part C describes the role of the World Bank
and International Monetary Fund (IMF) in the global effort
and the coordination of technical assistance available to
countries in order to help them achieve compliance with
international standards. Each chapter is a self-contained
discussion of the topics covered in that chapter with
detailed references to background and original source
materials. Annexes I, II and III provide complete citations
to reference materials. |
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