EU AML/CFT Global Facility

Workshop on Regional Eastern Partnership and Europe AML/CFT Multi-stakeholder in Warsaw
2023-04-04 - 2023-04-05 | Poland, Poland
Today, we launch the 2nd in a series of Regional Consultations on the revisions of the Best Practices Paper on Financial Action Task Force (FATF) Recommendation 8 in Warsaw, #Poland 🇵🇱
Civil society representatives from 13 countries of the Regional Eastern Partnership and Europe will spend two days discussing the challenges and best practices in the implementation of this recommendation in the regions. Officials from MONEYVAL are also in attendance, along with representatives of the Polish authorities.
Following the first consultation in Buenos Aires last month, the EU Global Facility, in co-operation with the Global NPO Coalition on FATF and in co-ordination with the respective FSRBs will continue organising those regional NPO consultations around the world, with sessions scheduled to take place in
🌍 Amman (Middleeast and North Africa Financial Action Task Force (MENAFATF) region)
🌍 Cape-Town (esaamlg org, GABAC and GIABA regions)
🌏 South-East Asia (APG region)

Completion of the NPO Sectoral Risk Assessment in the Seychelles
2023-04-12 | The Seychelles, Seychelles
Kick off of the NPO Sectoral Risk Assessment Validation Workshop in Victoria, Seychelles today.
The EU Global Facility, in co-operation with the FIU of the Seychelles, brought together some 100 participants from the authorities and regulators, the private sector and the NPO field to this important milestone.
The inherent risk report has been elaborated over the past months by the authorities of the Seychelles, with continuous support from the EU Global Facility experts.
It is expected to ensure better compliance of the partner country with the requirements of the FATF Recommendation 8 on NPOs.
During this event, participants will also discuss policy frameworks and guidelines to support improved compliance with the FATF Recommendation 8, as well as the forthcoming capacity building programme and outreach activities to be co-organised with the EU GF.
💡 The EU Global Facility’s technical assistance to the Seychelles began in the fall of 2022. It has covered topics related to NPOs, Beneficial Ownership, the Justice sector and the Regulation/FIU field.

E-training on FATF Recommendation 8 for Zambia
2023-04-12 - 2023-04-14 | Zambia, Zambia
With the support launched by the EU GF to the Zambian authorities in the preparation of their NPO Sectoral Risk Assessment, the EU GF experts shall train the authorities but also local experts to be engaged in the data gathering exercise, in the methodology and practical aspect on how to conduct the data collection process.

E-training on FATF Recommendation 8 for Trinidad and Tobago NPOs
2023-04-17 - 2023-04-21 | Trinidad and Tobago, Trinidad and Tobago
Launch of the online training on FATF Recommendation 8 for our new partner state Trinidad and Tobago 🇹🇹 !
Over the next five days, some 40 representatives of NPOs from the Caribbean island will attend sessions to improve the country’s compliance with the requirements of Financial Action Task Force (FATF) Recommendation 8, delivered by experts in the subject matter.
In his opening remarks, EU Ambassador to Trinidad and Tobago His Excellency Peter Cavendish noted: “As it is recognised, money laundering and terrorist financing are significant threats to countries worldwide. The situation has been deteriorating and governments have to stop and coordinate to fight these phenomena’s global destructive reach.”
He stressed that the fight against ML/FT is “a global fight and it is essential to improve the well-being of citizens across the globe.
Training like that starting today allows to improve efficiency and effectiveness of capacities of all participants in AML/CFT.
I am very happy to welcome all participants and to announce that Trinidad and Tobago is now the 25th country where the EU Global Facility on AML/CFT is active.”
His remarks were followed by an introduction from Key Expert on Justice/CSO Mamuka Jgenti and the Head of Anti-Terrorism Unit at the Office of Attorney General and Ministry of Legal Affairs of Trinidad and Tobago Vyana Sharma.
In the coming weeks, another series of online training will be delivered to the representatives of authorities and regulators of the country, while other areas of technical assistance will be tackled by the rest of the EU Global Facility team.

Working visit to the DRC
2023-04-24 - 2023-04-26 | DRC, Congo, Democratic Republic of the
The EU Global Facility is in Kinshasa , DRC 🇨🇩 this week as part of its technical assistance activities to the partner country.
The working visit headed by our Team Leader David Hotte kicked off this morning with a training on sanction screening (Financial Action Task Force (FATF) Recommendations 6 and 7) delivered by our Key Expert on Regulation/FIU Arnaud Stien and our expert on Targeted Financial sanctions Fadma Bouharchich.
This first training in a series will focus on the DRC’s obligations under the United Nations Security Council Resolutions. They will enable the Congolese authorities to better understand the scope of CFS obligations and their place in the strategy to combat the financing of terrorism and the financing of nuclear proliferation. The analysis of the law and the training sessions will be used to fuel subsequent exchanges on the operationalisation of the adopted texts.
Three main areas of work are proposed:
1. Operationalisation of the institutional framework dedicated to the CFS: support for the definition of operational processes for the implementation of Recommendations 6 and 7 (identification of targets, communication of lists, withdrawal of lists, unfreezing of funds, etc.)
2. Establishment of processes for monitoring and inventorying frozen assets, to enable the DRC to respond to the FATF’s request for statistics on frozen assets (develop the process for communicating frozen assets to the competent authorities and their centralisation)
3. Ensure effective implementation of targeted financial sanctions by raising awareness of the scope of the obligations among the authorities responsible for monitoring the implementation of the CFS and the private sector”.
On Tuesday 25 April, the EU Global Facility team will provide a mentoring on national coordination, aimed at preparing the Technical Assistance Coordination Committee (TACC) meeting foreseen at the EU Delegation on Wednesday 26 April.
The TACC was launched last December in Kinshasa, in order to best coordinate the work of all technical assistance providers to the Congolese partners in their efforts to strengthen their AML/CFT frameworks.

AML/CFT Moot Court Concept - Working Meeting in Siracusa
2023-04-25 - 2023-04-27 | Siracusa, Italy, Siracusa, Italy
Today, we begin the work on the AML/CFT Moot Court with The Siracusa International Institute for Criminal Justice and Human Rights.
A group of experts from Iceland, Italy, France, Georgia, Romania and the United States gathered to explore the potential of MOOT courts to develop in-depth knowledge and practical skills of prosecutors in relation to money laundering cases.
During this first meeting, the working group reviewed the workplan of activities proposed and the distribution of tasks, as well as analysed the information on good practices already gathered by the experts.
This pilot activity will then be tested for future implementation for the benefit of EU Global Facility partner countries.
💡 The collaboration between the EU Global Facility and the Siracusa International Institute began in September 2021 with the aim of reinforcing judges and prosecutors’ capacities and specialised knowledge on AML/CFT matters. A number of joint activities has already been held on various international judicial cooperation matters.

Regional workshop on BO Registers in Tunisia
2023-04-25 - 2023-04-27 | Tunisie, Tunisia
Tunis, 26 April – The National Company Registry (RNE) of Tunisia and the EU Global Facility on AML/CFT on Thursday wrapped up a three-day regional training workshop on “Implementing a register of beneficial owners” in Tunis.
“It is part of the mission of RNE as an actor in the fight against money laundering and terrorist financing and guarantor of the transparency of economic transactions necessary for economic growth,” said the Director General of the register, Adel Chouari, at the opening of the training on Tuesday.
He stressed the importance of the implementation of a register of beneficial owners, which is the first guarantor of transparency and integrity of the financial sector, especially since Tunisia is preparing to come under the scrutiny of the Financial Action Task Force (FATF) in 2024, for a periodic evaluation.
For his part, the Head of Section and First Secretary of the Delegation of the European Union in Tunisia, Massimiliano Messi, noted that the EU will always support the NER and Tunisia so that investment remains viable and interesting and a source of job and wealth creation.
“It is very important for the EU to train in the field of Beneficial Ownership, noting that the recommendations of the intergovernmental body that oversees global trends in money laundering and terrorist financing “FATF” are very important but those on BO still remain the most complicated” he said.
Messi estimated that the presence of representatives of the commercial registers of Algeria and Libya will allow to create a dynamic to be able to detect the BO which are hidden in a register in one country or in another.
The training was led by international experts from the EU Global Facility coming from Belgium and Luxembourg.

Support of finalisation of NPO Sectoral Risk Assessment in Jamaica
2023-04-25 - 2023-04-28 | Jamaica, Jamaica
The EU Global Facility is wrapping up the day with its onsite workshop in #Jamaica 🇯🇲.
This week, one of our experts worked with the government of Jamaica to consolidate the considerable success achieved so far in the review of the NPO sector exercise.
Over the last few days, they worked on identifying where potential risks lie in the non profit sector and ways to mitigate them, in order to make the Jamaican NPO sector stronger and better equipped to counter money laundering and terrorist financing threats.
Key Jamaican NPOs also took part in consultations held about these reforms to ensure a comprehensive analysis of the reality on the ground.
Meanwhile, internal reforms within the governmental entities are being analysed in order to best adjust to the Financial Action Task Force (FATF) and other international standards.
In the near future, the EU Global Facility shall also organise one to one sessions with relevant Jamaican partners to address any concerns that may remain on this workstream.

E-training on FATF Rec 8 for Trinidad and Tobago's authorities and regulators
2023-05-02 - 2023-05-05 | Trinidad and Tobago, Trinidad and Tobago
Today, the EU Global Facility launches a new e-training of authorities and regulators of Trinidad and Tobago. Focused on the topic of FATF Recommendation 8, the activity follows the initial e-training delivered to NPOs of the partner country on the same topic last month.
Starting today, the e-training will focus on the requirements and best practices to implement in order to best comply with FATF Rec 8 requirements. It is part of the workplan agreed upon with the Caribbean island during a scoping mission back in February 2023.
As of today, the EU Global Facility has already delivered technical assistance activities to the partner country on the topic of Sanctions (Immediate Outcome 3 and Recommendations 28 and 25), Gaming and FATF Recommendation 8 on the not-for-profit sector.

Regional Custodial Financial Investigations Webinar in Africa
2023-05-03
Yesterday, the EU Global Facility held a very successful webinar on Prisons, Money Laundering and Terrorist Finance: A missed opportunity?’ – An Introduction to Custodial Financial Investigations.
Targeted at representatives of the Middleeast and North Africa Financial Action Task Force (MENAFATF) and esaamlg org regions, this marked the very first in a series of webinars to be organised throughout the year on the topic of illicit finance in the custodial environment.
Over 70 participants took part in the discussions, which followed presentations by various specialised experts on a number of the issues, problems and financial investigative opportunities on the subject.

🔎 An introduction to illicit finance in the custody and prisons arena
🔎 An identification of the issues
🔎 A suggested approach to Custodial Financial Investigations
🔎 An introduction to Illicit Business Model Analysis

This webinar comes following the publication of a paper on Custodial Financial Investigations available here

Regional conference on use of AML/CFT in Investigation of Art & Antiquities Criminality in Mexico
2023-05-09 - 2023-05-11 | Mexico, Mexico
Mexico City, May 9, 2023.- Representatives from 18 Latin American countries are participating in the Regional Conference “The use of Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) in the investigation of Art and Antiquities Criminality”, organised by the EU AML/CFT Global Facility in collaboration with the Financial Intelligence Unit (FIU) of Mexico and the Financial Action Task Force for Latin America (GAFILAT).
The Conference aims to strengthen the capacity of the public and private sectors to share information, exchange best practices, identify problems and create solutions to this type of crime. It also aims to raise awareness of this phenomenon among all stakeholders in order to reduce and counter money laundering and terrorist financing (ML/TF) in these lucrative markets and protect a country’s heritage.
The three-day regional event opened at Mexico’s National Museum of Anthropology with 120 high-level participants from Latin America and the Caribbean, the European Union and international organisations such as UNESCO, Interpol and the World Customs Organization, among others.
During her participation, the Minister of Culture, Alejandra Frausto Guerrero, stressed the importance of inter-institutional collaboration to stop the trafficking of heritage assets, and offered her support to advance this objective. “We are talking not only about a legal issue, but also about a human rights issue. Culture is based on cultural rights, on the rights to identity, on the rights of those peoples and communities that have historically been plundered by decades of plundering, of marginalisation, and are those places where the greatest cultural wealth is preserved”.
The head of the country’s cultural policy commented on the actions that have been put in place, for example, the Inter-institutional Commission of the Mexican Government to work on the issue and seek the repatriation of pieces that are outside the country, as well as the campaign #MiPatrimonioNoSeVende, to stop auctions that occur outside the national territory, which has allowed the return to Mexico of more than 11,500 pieces.
The Head of the Financial Intelligence Unit, Pablo Gómez Álvarez, referred to the strategic role of the Financial Intelligence Unit in the identification and tracking of illicit trafficking of cultural property in Mexico related to money laundering. He also pointed out the importance of strengthening inter-institutional coordination and international cooperation in order to prevent and combat this phenomenon more effectively.
Gómez Álvarez highlighted the efforts made by the FIU and the Mexican authorities that make up the national AML/CFT system to identify, prevent and mitigate those emerging risks identified in the commission of these crimes, and emphasised the relevance and usefulness of efficient and timely information exchange channels.
This event, the second in a series of four regional conferences to be organised in 2024, will consist of a series of presentations by international experts on AML/CFT and illicit art trafficking, as well as case studies examining the routes and methods used by criminal networks involved in the looting or theft of antiquities and works of art.
GAFILAT Executive Secretary Esteban Fullin highlighted the fact that “the market for art, antiquities and other cultural objects has attracted organised criminal groups and terrorists to launder the proceeds of their crime and finance their activities. There are risks associated with these markets and many countries do not have sufficient understanding of these risks.”
“Criminals seek to exploit the sector’s history of privacy, which, coupled with a lack of awareness, results in a lack of resources, expertise and experience to investigate and prosecute these crimes both domestically and internationally,” he pointed out. He acknowledged that the issue of art trafficking and money laundering has been little explored, when it is a threat, a precedent crime that generates illicit profits, hence the importance of the regional conference. “That’s also why I think we can learn a little bit from what the Mexican Ministry of Culture and the Mexican FIU can bring to us,” she said.

In his welcome address, David Hotte, Team Leader of the EU Global Facility, highlighted the innovative nature of the conference series, which “addresses the intrinsically complex issue of the looting and art trafficking conflict from a very comprehensive perspective”. “Managing to bring together investigators, prosecutors, Financial Intelligence Unit officials and members of the public and private sectors around the same table is a great success and the first step towards a stronger and more effective response to prevent the penetration of ML/TF in these lucrative markets, ultimately protecting countries’ assets”.

First Meeting of the Senior Advisory Group in Brussels
2023-05-15 - 2023-05-16 | Brussels, Belgium
The EU Global Facility project is pleased to welcome the very first meeting of its Senior Advisory Group on Monday 15 and Tuesday 16 May 2023 in its headquarters of Brussels.
Established to provide the project’s team with advice and insights on strategic AML/CFT orientations and to foster forward-looking discussions on potential new areas of high-level technical assistance, the Group is composed of 11 members, allowing for a diverse representation of EU Member States and partner countries, namely Belgium 🇧🇪, Czech Republic 🇨🇿, Denmark 🇩🇰, France 🇫🇷, Germany 🇩🇪, India 🇮🇳 , Italy 🇮🇹, Lithuania 🇱🇹, Poland 🇵🇱 and Spain 🇪🇸.
High-level representatives of these countries with backgrounds relevant to the AML/CFT sphere such as financial intelligence, law enforcement, justice, EU public administration, the private sector and the academia, spent these two days discussing the work conducted by the EU Global Facility since its creation back in 2017.
They also exchanged on the relevance of the topics foreseen for future activities. Ultimately, the Senior Advisory Group shall provide substantive inputs on how to increase the efficiency of the EU Global Facility in assisting states (i) to comply with the international standards on AML/CFT and; (ii) to support the national Financial Intelligence Units, judiciary and law enforcement agencies to implement the international instruments’ provisions as well as the Financial Action Task Force (FATF) Recommendations.
On the second day, participants discussed the EU response on AML/CFT, through a review of the European Commission’s Architecture on AML/CFT Technical Assistance and the perspectives ahead.
Moderated by de Kerchove Gilles , the discussions also covered the new EU AML Package (https://lnkd.in/eYZavjGZ), shedding a specific light on the creation of the AMLA and on the evolution of the listing process for high-risk third countries.
“The AMLA was thought through in very close collaboration with national Financial Intelligence Units, as it is not destined to replace these national layers. It will rather serve as the centre of an integrated system composed of the AMLA and the national authorities with an AML/CFT supervisory mandate,” said a representative of the European Commission, stressing that it would also help in bolstering cooperation among national FIUs.

Virtual Assets e-training series for Botswana regulators
2023-05-19 | Botswana, Botswana
🌍 Exciting Progress in AML/CFT Collaboration with Botswana 🇧🇼 !
Following the country’s request for technical assistance in November 2022, the EU Global Facility has been providing support to Botswana on a number of subjects, including the critical topic of FATF Recommendation 15 (New Technologies), which was rated partially compliant.
Since then, the EU GF team has focused on helping the authorities of Botswana to strengthen the regulation and supervision of Virtual Asset Service Providers (VASPs), with great progress achieved so far.
The EU GF has notably worked with the partner country to prepare a comprehensive work programme, spanning 15 sessions from April to September 2023. These sessions aim to empower the Botswanan authorities with the knowledge and tools necessary to conduct a National Risk Assessment (NRA) aligned with Rec 15.
The first three sessions, conducted between April and May, have now set a solid foundation for the NRA process. They covered key aspects such as the structure of the NRA for Virtual Assets (VA) and VASPs, the use of analytical tools for risk-based supervision, and the conduct of a questionnaire-based assessment.
👏🏽👏🏽👏🏽 These sessions enabled us to better understand and analyse the responses received, ensuring a robust and comprehensive NRA.
In the recently concluded fourth session, our experts delved into the crucial understanding of VA features and VASP operations. Focus was on comprehending the unique characteristics of VAs, their potential attractiveness for money laundering and terrorist financing, as well as gaining insights into VASP operations.
👏🏽👏🏽👏🏽This knowledge will help Botswana develop effective strategies to mitigate risks associated with these emerging technologies.
💡 The collaboration between the EU GF and Botswana exemplifies the power of international cooperation in combating financial crimes and ensuring the integrity of the global financial system. By enhancing the regulation and supervision of VASPs, we are taking significant steps toward safeguarding the transparency and security of virtual asset transactions.
Special thanks to Delphine Aupicon from the EU Delegation who shared the opening words of this session!

Gaming e-training series for Mozambique
2023-05-19 08:00 - 17:00 (Europe/Paris) | Mozambique, Mozambique
The EU AMLCFT Global Facility continues its work with #Mozambique 🇲🇿 , with the delivery of a specific e-training course on Gaming.
Following a request from the General Inspector of Gaming (GIG) of Mozambique, the EU Global Facility designed a comprehensive work programme aimed at addressing the recommended actions outlined in the Post-Observation Progress Report.
🔍 Sessions 1 & 2 (4th and 11th May) were dedicated to the main area of focus, IO 3/Supervision. These informative sessions delved into the world of AMLCFT for gaming, covering crucial topics such as requirements, typologies, supervision, risk assessment, and coordination with other competent authorities like the FIU and/or the LEAs. This aligns perfectly with the actions emphasised in the FATF Post Observation Progress report.

💼 Today, on May 19th, we launched Session 3 on IO 3/Supervision, going in-depth on the following crucial aspects:

1️⃣ Identifying clients: Understanding the importance of accurately identifying clients within the gaming sector.
2️⃣ Verifying information: Emphasising the significance of verifying client information to ensure transparency and accountability.
3️⃣ Recording data: Highlighting the need to maintain proper records of all relevant information.
4️⃣ Detecting suspicious transactions: Equipping participants with the skills to identify suspicious transactions within the gaming industry.
5️⃣ Disseminating suspicious transactions to the FIU: Establishing effective channels for promptly reporting any suspicious activity to the Financial Intelligence Unit.

We extend our sincere congratulations and gratitude to the gaming authority in Mozambique for their strong engagement and commitment towards enhancing AML/CFT practices in the country.
Special thanks and recognition also to Paulo Lopes, Gaming Authority in Portugal, for his invaluable contributions and support in this endeavour.

Participation in the MENAFATF Plenary
2023-05-21 - 2023-05-24 | Bahrain, Bahrain
The EU Global Facility had the privilege of participating in the 36th Plenary and Working Groups Meetings of the held in Manama, #Bahrain 🇧🇭 this week.
We are thrilled to share the highlights of our participation at this esteemed event:
1️⃣ During the 16th Meeting of the Risk Committee on 22nd May 2023, the EU GF, represented by its Key Expert on Regulation/FIU Arnaud STIEN, was part of a panel discussion on “#Transparency of Beneficial Owners – Between International Standards and Most Prominent Regional Practices.” Our panel included representatives from the FATF, IMF, Kingdom of Bahrain, and the UAE. Together, we explored the implications of the FATF’s updated Recommendation 24 and its impact on the EU GF’s work with partner countries.
2️⃣ Mr Stien also shared insights and expertise on using assessments made by other international bodies in the context of the EU GF’s work with partner countries. The EU GF firmly believes in leveraging existing assessments to strengthen the implementation of effective measures.
3️⃣ Our Expert provided valuable guidance on the priorities countries should focus on when implementing a sustainable Beneficial Ownership (BO) framework. The importance of early engagement, high-level and operational commitment, strong public-private partnerships, and forward-looking implementation measures were emphasised.
4️⃣ The EU GF was invited to partake in the Technical Assistance and Training Working Group (TATWG) where Mr Stien presented a comprehensive overview of the activities conducted with MENA countries since 2020.
“We are proud to have trained over 3,000 individuals during almost 100 different activities. In addition to bilateral activities conducted with partner countries such as Algeria, Jordan, Morocco, Tunisia, and the UAE, we have also organised numerous regional events to foster knowledge sharing and collaboration,” he stated.
📅 Upcoming events include: “Strengthening Judicial Cooperation in the MENA Region: Integrated Approaches to the Investigation and Prosecution of Money Laundering” in Rabat, 5th-7th June 2023.
We are humbled to have received a “Certificate of Appreciation” from MENAFATF Executive Secretary Suliman Al Jabrin, who recognised the project’s significant contributions to the group’s activities in 2022. This recognition further strengthens our commitment to continue and enhance our collaboration with MENAFATF.
👏🏽👏🏽🤝🤝 We extend our heartfelt gratitude to all the members, observers, and participants for their valuable contributions and engaging interactions throughout the event. Let’s continue to work together towards a more transparent and secure financial ecosystem in the MENA region and beyond!

Africa NPO Regional Consultation - Best Practices in Countering ML/TF while Preserving Civic Space
2023-05-22 - 2023-05-24 | South Africa, South Africa
Regional consultation on FATF Recommendation 8 revision gathers 18 African countries in Cape Town
Cape Town, South Africa – 22 May 2023 – The EU Global Facility on Anti-Money Laundering and Counter-Terrorist Financing (EU GF-AML/CFT) on Monday launched the Regional Consultation on the revisions of the Best Practices Paper on Financial Action Task Force (FATF) Recommendation 8 in Cape Town, South Africa.
Held under the title “Africa NPO Regional Consultation: Best Practices in Countering Money Laundering and Terrorism Financing While Preserving Civic Space”, the two-day regional consultation is co-organised with the International Center for Not-for-Profit Law (ICNL) and the support of the Global NPO Coalition on FATF.
Around 60 civil society representatives from 18 countries of the Central and Sub-Saharian regions of Africa are participating in these consultations, which aim to discuss the challenges and best practices in the implementation of FATF Recommendation 8 related to the not-for-profit sector.
Officials from the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) and the Groupe d’Action contre le Blanchiment d’argent en Afrique Centrale (GABAC), were also in attendance, along with representatives of the South African authorities.
On the second day of the consultations, civil society representatives identified the best practices, challenges and recommendations to be provided to FATF, before discussing their findings with the co-lead on the revision of the Best Practices Paper.
This event is part of a series of regional consultations organised by the EU GF-AML/CFT in co-operation with the Global NPO Coalition on FATF and in co-ordination with the respective FATF Style Regional Bodies. Launched in March 2023 in Buenos Aires for the GAFILAT and CFATF regions, the activity was replicated in Warsaw for the MONEYVAL region a month later. Following this week’s consultations, the EU GF will wrap up its series with two consultations in Amman (MENAFATF region) and Bali (APG region).
Following all iterations, the EU Global Facility shall organise a final global event in September 2023 in Germany, where all recommendations will be merged into the final “Consolidated NPO Common Position” to be submitted to the FATF Secretariat and member states.

Regional workshop on Enhancing Beneficial Ownership Frameworks
2023-05-23 - 2023-05-25 | South Africa, South Africa
Regional conference on beneficial ownership gathers 18 African countries representatives in Cape Town

Cape Town, South Africa – 23 May 2023 – The EU Global Facility on Anti-Money Laundering and Countering the Financing of Terrorism (EU GF-AML/CFT) on Tuesday, 23 May 2023 kicked off a regional conference on beneficial ownership (BO) as it relates to anti-money laundering and countering terrorist financing. The conference is being held in collaboration with the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) secretariat and the Financial Intelligence Centre of the Republic of South Africa.
Held under the title “Beneficial Ownership Disclosure Frameworks in Practice – From Risk Assessment to Beneficial Ownership Registers”, the three-day conference will witness the participation of more than 70 representatives from 18 countries on the African continent, as well as the participation of (TBC) attendees online.

In her opening remarks, Director of the FIC of South Africa, Adv Xolisile Khanyile said “Criminals rely on being able to hide their proceeds and creating distance between themselves and the source of their illicit proceeds. By having timely and accurate information on the beneficial owners of accounts and of property held by corporate vehicles, as well as the source of funds for corporate vehicles, we will be able to better protect the financial system from abuse.”

For her part, ESAAMLG Executive Secretary Fikile Zitha, noted: “this workshop, which is a continuation of the regional BO workshop held in September 2022 in Lusaka, aims to assist member countries in the proper application of transparency of legal persons and arrangements including the establishment of an appropriate framework capturing beneficial ownership information.”“With the great turnout we are seeing today, it sends a strong signal of commitment for adapting to the revised changes being brought,” she added.

The regional workshop, which will consist of interactive exchanges and open discussions, will allow participants to exchange best practices and further deepen their expertise on BO-related matters. Thematic presentations shall also be delivered by experts from Belgium, Latvia, Ukraine and Mozambique.
“Today’s conference shows the European Union’s strong commitment to combatting financial crimes and promoting transparency in the global financial system. We bring together representatives from many African countries, we foster collaborative efforts to establish effective beneficial ownership frameworks and we ultimately collectively safeguard our economies from illicit activities. The EU stands firm in its support for this conference. Together, we can build a more secure and accountable financial landscape for the prosperity of all,” said European Union Ambassador to South Africa, Sandra Kramer.

For his part, EU Global Facility Team Leader David Hotte welcomed the participation of representatives from 18 countries, saying “it is particularly impressive to witness the attendance of so many countries, which shows African nations’ committment to the enhancement of beneficial ownership frameworks within their respective jurisdictions. I am confident that these three days of exchanges will yield great results on risk assessment related to BO and BO registers”.
The conference is part of a series of technical assistance activities delivered by the EU GF-AML/CFT to partner countries around the world. Demand driven and tailor-made, the support is provided on a bilateral, regional and thematic basis. As of May 2023, the project has delivered bilateral assistance to 25 countries globally.

MENAFATF NPO Regional Consultation - Best Practices in Countering ML/TF while Preserving Civic Space
2023-05-30 - 2023-05-31 | Jordan
Regional consultation on FATF Recommendation 8 revision gathers MENAFATF countries in Amman
Amman, Jordan, 30 May 2023 – The EU Global Facility on Anti-Money Laundering and Counter-Terrorist Financing (EU GF-AML/CFT) on Tuesday launched the Regional Consultation on the revisions of the Best Practices Paper on Financial Action Task Force (FATF) Recommendation 8 in Amman, Jordan.
Held under the title “MENA NPO Regional Consultation: Best Practices in Countering Money Laundering and Terrorism Financing While Preserving Civic Space”, the two-day regional consultation is co-organised with the International Center for Not-for-Profit Law (ICNL) and the support of the Global NPO Coalition on FATF.
Over 40 civil society representatives from Algeria, Iraq, Jordan, Lebanon, Libya, Morocco, Palestine, Tunisia and Yemen are participating in these consultations, which aim to discuss the challenges and best practices in the implementation of FATF Recommendation 8 related to the not-for-profit sector.
On the second day of the consultations, civil society representatives identified the best practices, challenges and recommendations to be provided to FATF, before discussing their findings with the co-lead on the revision of the Best Practices Paper.
This event is part of a series of regional consultations organised by the EU GF-AML/CFT in co-operation with the Global NPO Coalition on FATF and in co-ordination with the respective FATF Style Regional Bodies. Launched in March 2023 in Buenos Aires for the GAFILAT and CFATF regions, the activity was replicated in Warsaw for the MONEYVAL region a month later and in Cape Town (ESSAMLG, GABAC and GIABA regions) in May 2023. Following this week’s consultations, the EU GF will wrap up its series with a consultation Bali (APG region).
At the end of all these iterations, the EU Global Facility shall organise a final global event in September 2023 in Germany, where all recommendations will be merged into the final “Consolidated NPO Common Position” to be submitted to the FATF Secretariat and member states.

Regional Conference on Strengthening Judicial Cooperation in the MENA Region - Morocco
2023-06-05 - 2023-06-07 | Morocco, Morocco
Press Release
2nd Regional conference on judicial cooperation in the MENA region launched in Rabat, Morocco
Rabat, 5 June 2023 – The EU Global Facility on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), in collaboration with the Ministry of Justice of Morocco, the Siracusa International Institute for Criminal Justice and Human Rights, and MENAFATF, is proud to announce the launch of a Regional Conference on Judicial Cooperation in the MENA region today in Rabat.
The conference, which will last until Wednesday 7 June 2023, shall be held under the theme “Strengthening Judicial Cooperation in the MENA: Integrated Approaches to the Investigation and Prosecution of Money Laundering.” It welcomes over 140 participants from 21 countries of the Middle East and North Africa (MENA) region, as well as representatives from international organisations like the United Nations and the International Monetary Fund.
Building on the success and outcomes of a first conference held in Bahrain, in March 2022, this event aims to provide a platform for representatives of institutions from MENA countries to discuss their collective and individual responses to AML/CFT threats. It will serve as a forum to share best practices, coordinate approaches, and further enhance the region’s capacity in combating financial crimes.
EU Ambassador to the Kingdom of Morocco, Ms Patricia Llombart Cussac.
The MENA region faces significant challenges in dealing with money laundering and terrorist financing. Recognising the importance of judicial cooperation in effectively addressing these threats, the conference will bring together high-level officials, experts, and practitioners from the region and beyond. It will foster dialogue, knowledge exchange, and the development of strategies to strengthen the investigation and prosecution of money laundering cases.
In an online address, Executive Secretary of the MENAFATF, Sulaiman AlJabrin, stated: “in a world that is proceeding in its battle against money laundering crimes according to a system that is constantly being developed to keep pace with the latest criminal developments, the Financial Action Task Force has established foundations and rules that guarantee a reasonable limit to stand firmly in the face of these crimes, address them, and bring criminals to justice.”
“Financial Intelligence Units, judges and public prosecutors play a fundamental role in achieving justice at the end of these lengthy processes. Criminals cannot be deterred without us working to strengthen and enhance cooperation between judicial authorities to resolve the battle and ensure winning the bet. This confirms the importance of this conference for the member states of the MENA region, and I call for intensified cooperation between all actors present here,” he concluded.
The conference will feature engaging panel discussions, interactive workshops, and expert presentations, providing participants with valuable insights into emerging trends, effective investigative techniques, and successful prosecution strategies. Through these activities, attendees will gain a comprehensive understanding of the complexities surrounding AML/CFT efforts in the MENA region and identify opportunities for enhanced collaboration.
Key speakers at the conference will include prominent figures from the fields of the judiciary, financial intelligence units, and relevant international organisations such as the IMF, the UN and the AGRASC. Their expertise and experience will contribute to meaningful discussions and the formulation of practical recommendations to enhance regional cooperation and improve the effectiveness of AML/CFT measures.

South Africa NPO Sectoral Risk Assessment
2023-06-12 - 2023-06-13 | South Africa, South Africa
#SouthAfrica NPO Risk Assessment Workshop starts today
Spanning over the course of two days, this online activity will provide a valuable platform for participants to finetune South Africa’s NPO Risk Assessment, while fostering collaboration between representatives from several African countries.
This comes a month after our very successful NPO Regional Consultations held in Cape Town in XXX (for more details, watch this video)
Today, participants are taking part in a stimulating exchange between South African, Kenyan, and Mozambican authorities, focusing on the Sectoral NPO RA. By engaging in this continent-wide dialogue, South African authorities will gain valuable knowledge and a comprehensive understanding of the current landscape in other countries within the region.
As for the second day, the EU Global Facility experts will focus on the progress made in implementing the RA, specifically within the South African context. The day will be dedicated to working closely with the SA technical group, reviewing their achievements thus far and charting the course for future engagement.
Ultimately, this risk assessment aims to foster a secure and resilient environment for non-profit organisations in South Africa.

E-training on Statistics on Police for Ecuador
2023-07-03 | Ecuador, Ecuador
E-training on statistics wraps up for Ecuador police 🇪🇨
Following the success of the first module , which covered general statistical concepts (March 2023), the EU Global Facility is delighted to announce it just concluded the 2nd module of a training series on statistics related to police forces.
This two-day training put a specific emphasis on Immediate Outcome 7, as identified by Ecuador’s Mutual Evaluation Report approved in July 2022, as “containing areas for improvement”.

The online training, delivered by a Spanish expert, brought together a diverse range of participants, including representatives from the FIU, police, prosecution, the judiciary, and the assets recovery entity, among others. By fostering collaboration among these crucial stakeholders, the training aimed to enhance the effectiveness of statistical practices and support Ecuador’s ongoing efforts to combat financial crimes.
📊 The training series -the first to be delivered on the subject of statistics by the EU Global Facility- was officially requested by Ecuador. In light of its successful implementation, Argentina and Uruguay have already formulated requests for similar training to be implemented in their jurisdiction.
💡The EU Global Facility began delivering technical assistance activities to the new partner country back in March 2023.

Intelligence into Evidence workshop for Turkiye
2023-07-03 - 2023-07-05 | Turkey, Turkey
Today, the EU Global Facility launched a workshop on “Turning Intelligence into Evidence” for over 90 representatives of Turkiye’s law enforcement agencies and judiciary.
Designed as part of the work plan established with our Turkish counterparts, this activity is dedicated to representatives of all penal chain institutions, with the aim of bridging the gaps that can exist in money launcdering and terrorist financing investigations. This workshop will be conducted over the next three days by experts from the Netherlands, Spain and Ireland.

“By bridging the gap between intelligence gathering and legal proceedings, we are taking crucial steps towards ensuring a robust and efficient justice system,” explained EU Global Facility Key Expert on Justice/CSOs Mamuka Jgenti.

“Participants will engage in interactive sessions, discussions, and practical exercises to enhance their understanding of the process and delve into topics such as the evaluation of intelligence, admissibility of evidence, and best practices for presenting information in court,” noted Key Expert on Law Enforcement L. Ennis.

This event will empower participants to better navigate the complex landscape of turning intelligence into compelling evidence, hereby fostering a stronger and more effective penal chain system, promoting justice, and safeguarding the country against criminal activities.

E-training on statistics - Argentina
2023-07-10 - 2023-07-12 | Argentina, Argentina
Wrap up of the first Statistics e-training for Argentina 🇦🇷 today.
Following a series of activities on the topic of Recommendation 8, the EU Global Facility delivered a new technical assistance activity on Statistics for some 60 representatives of 16 Argentinian institutions, all members of the National Committee on AML/CFT/CPF.
Carefully tailored to address Argentina’s specific needs, this e-training on statistics was designed following in-depth discussions held during the EU Global Facility scoping mission to the country in March 2023. The e-training shall contribute to the country’s preparations in light of the upcoming Financial Action Task Force (FATF) evaluation. The three-day training was delivered by Irene Sánchez, from the Spanish Treasury. She provided participants with valuable insights into the intricacies of statistics for FATF compliance, offering a comprehensive understanding of the subject matter.
Looking ahead, the EU Global Facility will also deliver an e-training on statistics encompassing all Immediate Outcomes to its new partner country, Uruguay, in August.

Jordan microfinance institution AML 30 000 certification
2023-07-12 | Jordan
EU Global Facility empowers microfinance institutions in Jordan and Tunisia to combat money laundering, terrorist financing

In the realm of microfinance, institutions play a crucial role in empowering individuals and communities by providing access to financial services. However, with the rise of financial crime, it has become essential for these institutions to actively combat risks such as money laundering and terrorist financing. The EU Global Facility has recognised the significance of this challenge and has been providing support to microfinance institutions in Tunisia and Jordan to address these issues.
On Wednesday 12th of July 2023, Jordan’s microfinance institution Tamweelcom achieved a significant milestone by obtaining the AML 30 000 certification, solidifying their commitment to combating financial crime.
The certification ceremony, held in the presence of representatives from the EU Delegation (EUD) to Jordan, was opened by Bashar Arafeh, Chairman of Tamweelcom. His speech was followed by the congratulations of David Hotte, Team Leader of the EU Global Facility, who noted: “on behalf of the EU Global Facility, I want to warmly congratulate Tamweelcom on their remarkable achievement. This certification is a testament to their unwavering commitment to upholding the highest standards of financial integrity and actively combating the risks of money laundering and terrorist financing”.
“Tamweelcom’s dedication and exemplary efforts serve as an inspiration to the entire microfinance sector. We, at the EU Global Facility, commend their remarkable accomplishment and are confident that their leadership will encourage other financial institutions in the region to follow suit. Together, we can create a more secure and resilient financial ecosystem in Jordan and beyond.”
A representative from the EU Delegation to Jordan reiterated the European Union’s support to such endeavours, calling on collaborative efforts from all microfinance institutions around the Kingdom. Concluding the ceremony, Cristian Mocanu, Secretary General of COFICERT, the Commission for Financial Certifications which conducted Tamweelcom’s assessment, recognised Tamweelcom’s rigorous efforts in upholding financial integrity and their determination to actively address the risks of money laundering and terrorist financing.
This achievement not only positions Tamweelcom as a leader in the microfinance sector but also demonstrates their contribution to promoting good governance practices and fostering a robust financial system in Jordan. The AML 30 000 certification ceremony serves as a testament to Tamweelcom’s unwavering dedication and will undoubtedly inspire other financial institutions in the region to follow suit in the fight against financial crime.

E-training on statistics and justice for Ecuador
2023-07-12 - 2023-07-14 | Ecuador, Ecuador
Today the EU Global Facility wraps up its latest e-training on Statistics and Justice to Ecuador.
Led by French expert Aurélien Létocart, the e-training showcased France’s approach to justice statistics, including a discussion on the challenges that the country has faced in this regard.
France recently underwent the FATF evaluation, which yielded positive results in Immediate Outcomes 7 and 8 partly linked to statistics.
The expert presented the comprehensive framework employed in France for gathering justice statistics, with a specific focus on those to be submitted to the FATF. He emphasised the significance of national coordination in data collection and shed light on the common difficulties encountered by jurisdictions when dealing with this intricate realm of statistics.
With only one more specific module remaining—assets recovery, scheduled online from 24th to 26th July and then onsite from 6th to 8th September—the EUGlobalFacility is steadily supporting Ecuador in its efforts on anti-money laundering and counter-terrorist financing.
These specialised modules are not only instrumental in fostering knowledge sharing but also in equipping participating jurisdictions with the tools and expertise necessary to enhance their justice statistics systems. By addressing the complexities head-on, these countries pave the way for improved governance, transparency, and accountability.

Joint FATF/EU Global Facility training for French-speaking countries on FATF Standards
2023-07-17 - 2023-07-21 | Vienna, Austria
First-ever joint training by FATF and EU Global Facility in Vienna, Austria! 🌍

The EU Global Facility on Monday supported the launch of the first FATF Standards Training Course (STC 23-2023 July) organised outside of the FATF Training Institute located in Busan, South Korea since its reopening. This groundbreaking collaboration showcases the European Commission‘s commitment to standing at the forefront of the fight against money laundering and counter-terrorist financing across the globe. It does so by funding the variety of collaborative initiatives and partnerships conducted by the EU Global Facility project.
From the 17th to the 21st of July, some 35 hand-picked representatives from 15 French-speaking jurisdictions will familiarise themselves with the highest FATF standards, paving the way for enhanced compliance and strengthened anti-money laundering measures in their respective jurisdictions.
In attendance are participants from five Financial Action Task Force-Style Regional Bodies (FSRBs), namely ESAAMLG (Madagascar, Burundi), GABAC (Chad, Congo, Democratic Republic of Congo, Cameroon, Gabon, Central African Republic), GIABA (Senegal, Benin, Comoros, Togo, Guinea, Burkina Faso) and GAFIC (Haiti).
This joint training initiative represents a remarkable milestone in the ongoing efforts to combat financial crimes and establish a more secure global financial system. By launching this collaboration with the standards setting entity -the FATF-, and bringing together diverse French-speaking countries, the EU Global Facility continues to support the efforts carried out by partner countries across the world to uphold their compliance and exchange the best practices.
Out of the 22 training sessions organised by the FATF Training Institute since its reopening in November 2020, two have already been delivered in French.
About the training
🔍 The training on FATF standards is of intermediate level, designed for anti-money laundering and counter-terrorist financing practitioners who have already been introduced to the FATF standards. This comprehensive training will be conducted through a series of presentations, group discussions, and interactive activities.
🌐 The FATF Standards Training stands as the centrepiece of the FATF Training Institute’s programme situated in Busan, Republic of Korea. Its objective is to empower participants with the knowledge and skills required to effectively understand and implement anti-money laundering and counter-terrorist financing measures in their respective jurisdictions.
The event is hosted in the prestigious United Nations Office on Drugs and Crime (UNODC) in Vienna, Austria, as a testimony of the significance of this collaborative training in combating money laundering and financing of terrorism on a global scale.

As we open this remarkable collaboration, the EU Global Facility wishes all participants a fruitful and insightful training experience.

Participation in the GAFILAT Plenary in Panama
2023-07-18 - 2023-07-21 | Panama, Panama
👏🏽 👏🏽 👏🏽 Warm congratulations to GAFILAT for the successful plenary! A great thank you to all countries involved and the host country, Panama 🇵🇦 for their excellent efforts and hospitality. Well done on a fruitful event!
This is the 3rd time the EU Global Facility is invited to partake in the GAFILAT Plenary, and we’re grateful for the opportunity to strengthen our partnership.
During four days of fruitful meetings, our Senior Expert on Justice Victoria Palau Tárrega attended the plenary -opened over by Panama’s President-, delivered a presentation on the EU GF’s successful endeavours in the region and conducted bilateral meetings with a number of regional stakeholders.
In close collaboration with the GAFILAT, the EU Global Facility recently organised a high-level regional conference on art trafficking and AML/CFT in Mexico and the organisation of a regional conference on beneficial ownership scheduled to take place in Argentina in November is currently underway.
Our expert also took part in bilateral meetings with countries receiving the project’s technical assistance, including Panama, Argentina, Ecuador, Uruguay, and Paraguay. The project is also currently exploring potential collaborations with other countries, reaffirming our commitment to impactful partnerships.
A coordination meeting among observers and technical assistance providers also took place, aimed at optimising technical support in the region and avoiding duplication.

Webinar on "Beneficial Ownership Transparency and the European Court of Justice “Sovim” Ruling"
2023-07-20 00:00
“European Court of Justice Sovim ruling: state of play and way(s) forward.”

The EU Global Facility just released its latest piece as part of the Beneficial Ownership Discussions Series : open the document here
Related to an expert roundtable held online earlier this year, the paper delves into the critical topic of Beneficial Ownership (BO) Transparency and the Court of Justice of the European Union Sovim ruling.
The debate between BO transparency and the right to privacy, including GDPR requirements, has been a recurring theme when it comes to FATF Recommendations 24 and 25. This friction has led to various decisions and opinions from different authorities, bodies, and stakeholders.
The 4th EU AMLD in 2015 required every member state to set up BO Registers, gathering and verifying BO information to be made available to various stakeholders, including members of the general public upon the demonstration of their legitimate interest to access the information. In 2018, the 5th AMLD removed the condition of legitimate interest for the access to members of the general public, but a contentious ruling by the ECJ in November 2022 invalidated this unconditional access based on privacy rights concerns. The ECJ ruled that a legitimate interest must be demonstrated to access such information, reinstating the 4th AMLD conditionality.
To discuss the implications of the ECJ ruling, the EU Global Facility organised a Roundtable where experts shared their practical insights on the impact of the ruling on the effectiveness of BO disclosure and AML frameworks, as well as possible legal and operational solutions available to address the concerns raised by the court.
During the roundtable, experts representing stakeholders from both public and private sectors discussed various challenges, including the balance between transparency and privacy, data quality concerns in BO registers, and the importance of access to BO information for investigative purposes.
The open discussion highlighted the need for further debate and the importance of finding a long-term solution that can strike a balance between privacy rights, data protection, and the need for access to information in the fight against financial crimes.
The EU Global Facility is now working to organise sub-groups of experts to prepare documents on key topics, such as defining legitimate interests, technological solutions available to exchanging BO information, and protecting those with a legitimate interest from tipping off.
Stay tuned for more updates on this crucial topic as the European Commission, the European Parliament, and the Council are set to finalise their discussions on the upcoming AML Package.

Final Regional Consultation for Non-Profit Organisations - Asian-Pacific region
2023-07-25 - 2023-07-27 | Bali, Indonesia
The EU Global Facility holds fifth and final Regional Consultation for Non-Profit Organisations of Asian-Pacific region

Last but not least! Today we open a three-day regional event in Indonesia 🇮🇩 in collaboration with the Global NPO Coalition on FATF.
Taking place from July 25th to 27th, this Regional Consultation brings together together 50 NPO representatives from the APG and Central Asia countries, including Bangladesh, Cambodia, Hong Kong, India, Indonesia, Kazakhstan, Kyrgyzstan, Malaysia, Mongolia, Nepal, Pakistan, Philippines, Sri Lanka, and Thailand as well as from Croatia, Georgia, the Netherlands, the Republic of Moldova, Russia and the UK. Representatives of the APG Secretariat as well as the authorities of the host country – Indonesia – will also be in attendance.
We are also happy to announce that the Chairperson of MONEYVAL and representatives from the EU Delegation to Jakarta will also address the audience.
The primary objective of this meeting is to discuss the upcoming revision of the Financial Action Task Force (FATF) Recommendation 8 Best Practices Paper (BPP) by the FATF. The Rec 8 BPP revision is a crucial step towards aligning international standards with the evolving needs and realities of NPOs. It also provides an opportunity to address any existing challenges and improve the effectiveness of measures designed to combat money laundering and terrorist financing while safeguarding the legitimate activities of NPOs.
In this sense, the EU Global Facility and its partners are working to foster an inclusive and collaborative environment, where we aim to gather valuable insights and contributions from NPOs of the region, ensuring that their perspectives and expertise are incorporated into the final proposal to be submitted to the FATF
Indeed, following the four previous consultations held for the regions of Latin America/the Caribbean, Africa, Europe and MENA, this collaborative effort will culminate in a final global event scheduled to take place in Bonn in September. There, the consolidated global position will be discussed and finalised.
Key Objectives:

🔹 Facilitate dialogue and exchange of experiences among NPOs in the APG region
🔹 Gather input and feedback to inform the Rec 8 BPP revision process
🔹 Strengthen the common global position of NPOs
🔹 Enhance collaboration between NPOs, regulators, and policymakers

Metaverse training in the UAE
2023-07-25 - 2023-07-27
Metaverse investigations training launched by the EU Global Facility in the United Arab Emirates 🌍🔍
The EU Global Facility is thrilled to announce its first-ever introductory awareness course on the complex Metaverse universe,
Running through Thursday 27th, the immersive training is targeted at some 45 law enforcement and Financial Intelligence Units officers and prosecutors of the UAE.
“The Metaverse is a very complex new concept that sets itself apart from other online environments by its huge scale, complexity and level of interconnectivity,” says EU Global Facility Key Expert on Law Enforcement Liam Ennis
“The emergence of the Metaverse has brought new challenges in terms of AML/CFT risks. As virtual assets and digital currencies become more prevalent within the Metaverse, it becomes crucial to understand and address these risks to maintain the integrity of financial systems and combat illicit activities.”
Some of the ML/TF risks associated with the Metaverse include anonymity and pseudonymity, Virtual Assets laundering, cross-border transactions and lack of regulatory frameworks, among others.
Over the three-day training, experts of the EU Global Facility will delve into crucial aspects related to the Metaverse and Virtual Assets (VAs), with a primary focus on AML/CFT investigations. Participants will have the opportunity to explore topics such as the identification of illicit activity in VAs and the assessment of the effectiveness of current AML/CFT measures.
By the end of the training, attendees will gain valuable insights into the misuse potential of virtual assets and their associated risks, regulatory frameworks, industry standards, and strategies for detecting suspicious transactions.
Objectives:

– Comprehend Metaverse, Virtual Assets, their misuse potential, and related money laundering and terrorist financing risks.
– Understand the principles of AML/CFT investigations as they apply to virtual assets, including the regulatory framework and industry standards.
– Identify key indicators of illicit activity in virtual assets and utilise analytical tools for detecting suspicious transactions.
– Assess the effectiveness of current AML/CFT measures within the context of virtual assets and evaluate the need for additional regulatory actions.
– Collaboratively devise strategies to enhance AML/CFT investigations and compliance within the virtual asset industry.
