Asia/Pacific Group on Money Laundering (APG)

 

Asia/Pacific Group on Money Laundering (APG) was established in 1997 at the Fourth (and the last) Asia/Pacific Money Laundering Symposium in Bangkok as an autonomous regional anti-money laundering body and a regional response to the problem of the global threat of money laundering.

The APG is working to facilitate adopting, effectively implementing and enforcing internationally accepted anti-money laundering and counter-terrorist financing standards – in particular, the Forty Recommendations and Nine Special Recommendations on Terrorist Financing of the Financial Action Task Force on Money Laundering (FATF).

The Asia/Pacific Group on Money Laundering assists jurisdictions in the region in enacting laws criminalising money laundering and terrorism financing, providing them with legal assistance, implementing comprehensive preventative measures, establishing coordinated systems for investigating and reporting suspicious transactions as well as in related matters.

The Asia/Pacific Group on Money Laundering has the following tasks:

  1. to participate in and cooperate with the global anti-money laundering network – firstly, the FATF as well as some other regional anti-money laundering groups,

  2. to carry out education, research and analysis activities to help understand the money laundering and the financing of terrorism environment as well as the global efforts against them,

  3. to provide and coordinate the technical assistance and training to jurisdictions in the Asia/Pacific region,

  4. to assess APG members’ compliance with the global anti-money laundering and counter-terrorist financing standards.

So, as it has been already mentioned, the FATF is a primary organization for the APG to cooperate with. Some of the future blogs will describe the results of this cooperation. 

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