EU Global Facility on AML/CFT

Partnership with Ukraine 🇺🇦 - Two MoUs signed for technical assistance We are pleased to announce the signature of two Memorandums of Understanding on the "Provision of International Technical Assistance" between the EU Global Facility leading implementing agency -Expertise France- and the State Financial Monitoring Service of #Ukraine as well as the Financial Monitoring Academy of Ukraine. Signed in Kyiv as part of the visit to Ukraine of Ms Cassilde BRENIERE, Deputy Chief Executive Officer in charge of Operations at Expertise France, the MoUs will pave the way for the completion of the EU Global Facility's registration process in Ukraine as technical assistance provider in line with the legislation of the partner state. 💡 The EU Global Facility has been in close contact with its Ukrainian counterparts since they formulated a request for technical support on anti #moneylaundering and counter-terrorist financing https://lnkd.in/ehUFrJ6n   Francesca Alisa Clément Mamuka David Alan European Commission Tiziana #AMLCFT #moneylaundering

📄 Beneficial Ownership Verification: "Insights from Latin America Country Experiences to Verify BO Information" 📄 Verificación de la Propiedad Beneficiaria: «Perspectivas de las experiencias de los países de América Latina para verificar la información sobre BO» The EU AML/CFT Global Facility, Inter-American Development Bank and GAFILAT are pleased to announce the release of our joint briefing note, which captures the key highlights and insights from the recent webinar on BO verification held on 10 July 2024. This event built on discussions from the regional conference on synergies between BO transparency, tax crimes, and combating #moneylaundering and #terrorismfinancing held in Buenos Aires 🇦🇷. La #EUGlobalFacility , IDB y GAFILAT se complacen en anunciar la publicación de nuestra nota informativa conjunta, que recoge los aspectos más destacados y las ideas clave del reciente seminario web sobre la verificación de la propiedad efectiva (BO). Este evento se basó en los debates de la conferencia regional celebrada en 🇦🇷 sobre las sinergias entre la transparencia de la propiedad efectiva, los delitos fiscales y ALA/CFT. Key Takeaways from the Webinar: 🔸 Good Practices in BO Verification: Explore practical applications from leading jurisdictions, including Belgium 🇧🇪 and Austria 🇦🇹 innovative BO registries, and Slovakia 🇸🇰 state-integrated verification mechanism. 🔸 Big Data for Transparency: Learn about data-driven approaches to detect unusual incorporations and enhance BO information availability, accessibility and integrity. 🔸 Over 1️⃣5️⃣0️⃣ experts from 1️⃣3️⃣ countries attended! This briefing note aims to equip regulators, policymakers, and stakeholders with knowledge and practical solutions for implementing and refining BO verification processes. Principales conclusiones del seminario web: 🔸 Buenas prácticas en la verificación del BO: Explore aplicaciones prácticas de jurisdicciones líderes, incluyendo Bélgica 🇧🇪 y Austria 🇦🇹 registros innovadores de BO, y Eslovaquia 🇸🇰 mecanismo de verificación integrado en el estado. 🔸 Big Data para la transparencia: Conozca los enfoques basados en datos para detectar incorporaciones inusuales y mejorar la disponibilidad, accesibilidad e integridad de la información del BO. 🔸Asistaron más de 1️⃣5️⃣0️⃣ expertos de 1️⃣3️⃣ países This briefing note aims to equip regulators, policymakers, and stakeholders with knowledge and practical solutions for implementing and refining BO verification processes. El objetivo de esta nota informativa es dotar a los reguladores, los responsables políticos y las partes interesadas de conocimientos y soluciones prácticas para aplicar y perfeccionar los procesos de verificación de la BO. 📄 https://lnkd.in/eiSYza92 #Compliance #AML Alexandre David European Commission María Guillermo Agustina Andres Alexander Graham Andrej Nadiia

First Annual Proliferation Finance Observatoire Conference at King's College London   As a founding member of the Proliferation Finance Observatoire since its launch in late 2023, the #EUGlobalFacility was proud to contribute to the discussions on key issues related to proliferation finance (PF). Taking place on 30-31 October 2024, this global conference  brought together experts, practitioners and prominent organisations and institutions to address the growing challenges in combating PF. Among others: monitoring the funds and financial services in #proliferation financing, designing and adopting a global definition, reinforcing the #publicprivatpartnership, enhancing the involvement of states and non-sates institutions, strengthening international cooperation among the law enforcement agencies   Represented by our Key Expert on Regulation/FIU Arnaud STIEN, the project took part in three significant panels,:   🔹 Panel 4: Investigating and Prosecuting Proliferation Finance – our expert Fadma Bouharchich explored best practices in investigating and prosecuting PF violations, drawing from cases of sanctions violations.   🔹 Panel 5: National Risk Assessments and Proliferation Finance - Arnaud Stien shared insights on how National Risk Assessments act as a preventive tool and coordinate national strategies while identifying areas for improvement in engaging the private sector and aligning international strategies.   🔹 Panel 6: Emerging Threats in Proliferation Finance – Amr Rashed discussed emerging threats such as the rise of virtual assets and how current frameworks must evolve to address these new challenges.   Great engagement with leaders in the field of AML/CFT such as ACAMS, C4ADS, CNS, Kharon, and many more from global institutions and national authorities.   🫱🏽👏🏽 Together, we aim to enhance global cooperation in tackling the complex issue of proliferation finance. European Commission David Cecile Jean-Annet Jack Tom Diphat Ellen Lydia Alberto Aaron Anila Andrea Allan Brian Carlotta Felix Giuseppe Giuseppina james Jonathan Joshua Louis Meghan Rosemary Sinem

Support to the Notarial Sector in Costa Rica 🇨🇷 through a Comprehensive Risk Assessment 💼 Apoyo al Sector Notarial en #CostaRica a través de una Evaluación Integral de Riesgos (versión española a continuación) Since January 2024, the EU Global Facility on AML/CFT has been working closely with Costa Rica's National Directorate of Notaries (DNN) to develop a Sectoral Risk Assessment for the notarial sector, a vital step toward ensuring compliance with FATF standards. Our experts have led a structured, multi-phase approach: 1️⃣ Training on SRA 2️⃣ Identifying necessary information 3️⃣ Analysing collected data 4️⃣ Drafting, revising, and finalising conclusions This past Friday, we advanced into the final stages, refining conclusions and revising an initial draft. The completed report will soon provide Costa Rica with critical insights, enabling risk-based supervision and contributing to FATF Recommendation 1 compliance for the notarial sector. The training are delivered by our experts Mariano García Fresno, Head of #AMLCFT office at the Spanish notaries, and Silvina Capello, adviser for the International Association of Notaries and to the Spanish notaries. ----- Desde enero de 2024, la #EUGlobalFacility ha estado trabajando estrechamente con la Dirección Nacional de Notariado (DNN) de Costa Rica para desarrollar una Evaluación de Riesgos Sectorial para el sector notarial, un paso vital para garantizar el cumplimiento de las normas del GAFI. Nuestros expertos han llevado a cabo un enfoque estructurado en varias fases: 1️⃣ Formación sobre la SRA 2️⃣ Identificación de la información necesaria 3️⃣ Análisis de los datos recopilados 4️⃣ Redacción, revisión y finalización de las conclusiones El pasado viernes 25 de octubre de 2024, avanzamos hacia las fases finales, afinando las conclusiones y revisando un borrador inicial. El informe finalizado pronto proporcionará a Costa Rica información crítica, permitiendo una supervisión basada en el riesgo y contribuyendo al cumplimiento de la Recomendación 1 del GAFI para el sector notarial. Las formaciones son impartidas por nuestros expertos Mariano G., Jefe de la oficina de la #ALACFT en el notariado español, y Silvina Capello, asesora de la Asociación Internacional del Notariado y de los notarios españoles.  Victoria European Commission Cecile David

First day of our training of Turkish auditors from the Ministry of Interior on the FATF standards on Recommendation 8 in Antalya, Türkiye 🇹🇷. The #EUGlobalFacility is co-organising this three-day activity with the Ministry of Interior of Türkiye and MASAK.  We take this occasion to wish our partner country a Happy 101st Republic Day Mamuka David Cecile Tiziana Aarti #AMLCFT #Moneylaundering #NGO

🚨 Senegal 🇸🇳 removed, 🇩🇿🇦🇴 🇨🇮🇱🇧 listed Congratulations to #Senegal for being removed from the FATF Grey List after implementing measures to enhance its AML/CFT framework. Meanwhile, the global watchdog announced the official listing of #Algeria #Angola #CotedIvoire and #Lebanon due to increased monitoring requirements. All updates are detailed in the official 'Outcomes FATF Plenary, 23-25 October 2024' 👉🏼 https://lnkd.in/eneMHPgn ©️ Photo of AML UAE #AMLCFT #moneylaundering European Commission David Cecile Alexandre Arnaud Mamuka Victoria

This week, we continue our engagement with Botswana 🇧🇼 on the NPO Sectoral Risk Assessment. Working in the background, partners from #Botswana have been supported by our #EUGlobalFacility experts for their drafting exercise aimed at finalising the sectoral risk assessment report. 🔎 What is a sectoral risk assessment (SRA) A NPO sectoral risk assessment evaluates the vulnerabilities and potential risks faced by the non-profit organisation sector, in relation to threats like terrorism financing. It is critical for NPOs to be actively involved when governments are assessing whether the sector is susceptible to abuse for terrorist financing purposes. A SRA allows the sector to make a strong case for revising legislation based on identified risks, proposed mitigating measures, and the existing self-regulation practices within the sector. 💡 But .. why is this needed? Over the past two decades, as the potential for NPOs to be exploited by terrorists has become more recognised, the sector has implemented a range of governance, #transparency, and accountability measures to mitigate these risks. While instances of NPO misuse by terrorists are rare, such risks remain. Terrorists may seek to exploit NPOs for various purposes, including raising and moving funds, providing logistical support, facilitating recruitment, or offering a veil of legitimacy for terrorist operations. To counter such threats, NPOs are expected to implement mitigation strategies, supported by appropriate government oversight. Protecting the NPO sector from terrorist abuse is not only vital for the global fight against terrorism financing but also essential for preserving the integrity of the NPO sector, the trust of donors, and the relationships with financial institutions. With this activity, the EU Global Facility is paving the way for the conclusion of the project's technical assistance to Botswana, which started back in 2020. Learn more about our collaborative journey here https://lnkd.in/eNMXhpHZ ©️ Copyrights-free photography / This photograph is not owned by the EU Global Facility David European Commission Tiziana Global NPO Coalition on FATF Ben Mamuka

Correspondent Banking: Key Workshop in the #UAE 🇦🇪 "Challenges and Best Practices in Supervision and Analysis of Correspondent Banking Relations and Correspondent Account Transactions – Operational and Supervisory Perspectives" was the focus of our workshop in Abu Dhabi, organised in collaboration with the Central Bank of The UAE on 7-8 October 2024. "Concretely, we aim to connect experts from the banking and finance supervision sector to the payments industry mechanisms (Swift payment messages (MT 103 MT 202)," explained #EUGlobalFacility Key Expert on Regulation/FIU Arnaud STIEN. "Through small group working sessions, we give them mock real-life scenarios where they would confronted to money laundering cases involving respondent and correspondent banks with an impact on the financial stability of the UAE's economy." With our two experts from Lithuania Marius Laurinaitis and Moldova Oxana G., the workshop addressed key challenges in implementing FATF recommendations on the regulation and supervision of correspondent banking. It focused on the analysis of transactions through correspondent accounts and examined how joint supervisory and FIU perspectives can lead to better practices in tackling these challenges. Workshop Highlights: 💡 The importance of FATF Recommendation 13 & Immediate Outcome 3, with a focus on correspondent banking relationships. 💡 Strategies to minimise #MoneyLaundering and Terrorist Financing risks in payment methods and correspondent banking, particularly through enhanced supervisory approaches. 💡 Reinforcing transparency in correspondent transactions by adopting robust preventive measures. 💡 Improving financial analysis techniques by FIUs, especially in handling suspicious transactions. 💡 Enhancing collaboration between FIUs and supervisory authorities to ensure effective joint actions in preventing and detecting money laundering and terrorist financing. David European Commission Asha Pawel Sowa, ICA Cecile #AMLCFT

🚨 Major changes announced by the FATF on the "Grey Listing" process With these significant updates to its criteria for placing countries on its watchlist, the Financial Action Task Force (FATF) is making a critical shift aimed at refocusing efforts on nations with larger financial sectors that are more likely to facilitate #moneylaundering and terrorist financing.

Non-Profit and Counter Terrorist Financing in Mauritius 🇲🇺 The EU Global Facility continues its collaboration with the partner country of #Mauritius on FATF Recommendation 8 compliance. Following the successful efforts by the authorities of Mauritius, with the support of the #EUGlobalFacility, to align their legislation and practices with FATF Recommendation 8, which led to a positive re-rating of "Largely Compliant" back in 2020, we are now embarking on the next phase of action. This week, we have initiated work to: ✅ Review the previously conducted NPO Sectoral Risk Assessment. ✅ Revisit the existing legislative and regulatory framework to ensure full compliance with the recent updates to FATF Recommendation 8 and its best practices paper. ✅ Together with our Mauritian partners, we will then identify key needs and agree on the work plan for both #riskassessment and legal expertise in the coming days. A big step forward in safeguarding the integrity of the NPO sector and combating the risks of misuse for terrorism financing. Mamuka Tiziana Ben Sangeeta Aarti David European Commission Expertise France #moneylaundering #AMLCFT