Compliance with the AML/CFT International Standard:

Lessons from a Cross-Country Analysis

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  • Practical hands-on case studies
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COURSE CONTENT
1. Introduction
2. Seminar Review
3. How Well do Banks Meet the AML/CFT Standard?
4. Empirical Evidence: Determinants of the AML/CFT
5. Compliance
  • Specification
  • Definition of Variables
    • Cultural Factors
    • Institutional Factors
    • Socioeconomic and Financial Factors
  • Empirical Findings
    • Econometric Results
    • Confirming Theories
  • Caveats
  • Conclusions and Policy Recommendations
6. How Well do Banks Meet the AML/CFT Standard
  • Case-Study 1: Overall Compliance with AML/CFT
  • Case-Study 2: Relationship between Jurisdictions with Systemically Important
7. Financial Sectors and Compliance with the AML/CFT International Standard
  • Case-Study 3: Relationship between Jurisdictions with Systemically Important
8. Financial Sectors and Compliance with the AML/CFT Recommendations on Preventing Financial Institutions from ML/TF
  • Group Discussion 1: The AML/CFT Groupings Definition
  • Group Discussion 2: Banks Compliance with Groupings of AML/CFT Recommendations
9. Determinants of the AML/CFT Compliance:
  • Overall Compliance with AML/CFT
  • Overall AML/CFT Compliance by Income and Regions
  • The AML/CFT Index vs. the AML/CFT Predicted Values
  • Overall Compliance with Legal Measures
  • Overall Compliance with Institutional Measures
  • Overall Compliance with Financial Institutions
  • Prevention
  • Overall Compliance with DNFBPs
  • Overall Compliance with Informal Sector Prevention
  • Overall Compliance with Entity Transparency

COURSE CONTENT
  • Overall Compliance with International Cooperation
  • Assessed Banks by Income Group
  • The AML/CFT Compliance Index by Components
  • Variables and Data Sources
  • Selected Banks
  • Variables Descriptive Statistics
  • Profile of the Overall Compliance with the FATF 40+9
  • Correlations Between Variables
  • Cross-Sectional OLS Regressions: Determinants of
  • AML/CFT Compliance and PCA Indices
  • Cross-sectional OLS Regressions: Determinants of AML/CFT Compliance Index Components
1. List of Factors underlying compliance with AML/CFT recommendations:
  • AML - Anti-Money Laundering
  • AML/CFT - Anti-Money Laundering and the Combating the Financing of Terrorism
  • BG - Banking Group on Money Laundering
  • BEC - Banking Economic Corporation
  • BPP - Best Practices Paper
  • BIS - Bank of International Settlements
  • BoP - Balance of Payments (IMF)
  • CDD - Customer Due Diligence
  • CFATF - Caribbean Financial Action Task Force
  • CFT - Combating the Financing of Terrorism
  • CO - Control of Corruption
  • DNFBPs - Designated Non-Financial Businesses and Professions
  • EAG - Euroasian Anti-Money Laundering Group
  • ESAAMLG - Eastern and Southern Africa Anti-Money Laundering Group
  • EU - European Union
  • FATF - Financial Action Task Force
  • FATF 40+9 - FATF 40 Recommendations on Combating Money Laundering (2013) and the Special 9 Recommendations on Terrorist Financing
  • FIU - Financial Intelligence Unit
  • FSAP - Financial Sector Assessment Program
  • FSRB - FATF-Style Regional Body
  • FT - Financing of Terrorism

COURSE CONTENT
  • GAFISUD - Financial Action Task Force on Money Laundering in South America
  • GDP - Gross Domestic Product
  • GIABA - Groupe Inter-gouvernemental d´Action contre le Blanchiment d’argent en Afrique Ouest
  • IAIS - International Association of Insurance Supervisors
  • IMF - International Monetary Fund
  • INCSR - International Narcotic Control Strategic Report
  • MENAFATF - Middle East & North Africa Financial Action Task Force
  • ML - Money Laundering
  • MONEYVAL - Council of Europe Committee of Experts on the Evaluation of Anti- Money Laundering Measures
  • NA - Not Available
  • NCBT - Non Cooperative Banks and Territories
  • NPO - Non Profit Organization
  • OFCs - Offshore Financial Centers
  • R.(number) - FATF Recommendation on Combating Money Laundering
  • SARs - Suspicious Activities Reports
  • STR - Suspicious Transactions Report
  • SR.( + number) - FATF Recommendation on Terrorist Financing
  • RATML - Ratifications of International Convention on Money Laundering
  • RATFT - Ratifications of International Convention on Terrorism
  • RNEFS - Ratio of Net Exports of Financial Services
  • RG - World Region Group
  • RQ - Regulatory Framework Quality
  • ROSC - Report on Observance of Standards and codes
  • WB - World Bank
  • WEO - World Economic Outlook