Countering money laundering

Other agencies are also required to cooperate with AMLO in implementing the Anti Money Laundering Act.

Legislation against money laundering

Anti Money Laundering Act 2001 (AMLA)

Anti money laundering measures.

For action against money laundering

The Decree of the Government against Money Laundering

Strengthen anti money laundering system.

Provision of training on measures to combat money laundering.

Draft Anti Money Laundering Bill, 2005

Legal agreements against money laundering

The anti money laundering system should be fully utilized.

Urge following the FATF agreements on money laundering.

FATF membership is endorsed as are bodies like the Asia Pacific Group on Money Laundering (APG).

OGBS is joining with the FATF, IMF World Bank and the FATF style regional bodies of CFATF, APG, ESAAMLG and GAFISUD in undertaking a programme of assessment of compliance with the FATF Forty Plus Nine Recommendations.

Chapter 2 provides clarification of the functions and mandate of the Anti Money Laundering Unit.

The regulation also specifies that AMLO officials should be a part of investigation teams and that results should be reported to AMLO.

The Act on Preventing Money Laundering established a normative framework against money laundering, including the control of financial transactions.

Currently, Anguilla has in place effective anti money laundering legislation, including the Proceeds of Criminal Conduct Act, 2000 the Money Laundering Reporting Authority Act, 2000 the Anti Money Laundering Regulations the Guidance Notes on the Prevention of Money Laundering and the Criminal Justice (International Cooperation) (Anguilla) Act.

And it is, in fact, an anti money laundering legislation.

Creation of a special anti money laundering unit within the Central Bank.

International conventions on AML should be drafted as soon as possible.

With regard to money laundering, some progress has been achieved with the establishment of a regional body to combat money laundering, the Eurasian Group.

Likewise, the revised version of the Anti Money Laundering Act has given the authority to the Anti Money Laundering Office to freeze suspicious funding relating to terrorist acts.

Anti money laundering and combating financing of terrorism controls were was added in November 2002.

Article 3 deals with the establishment, within the Central Bank of Egypt, of a mechanism for coordination between the various entities concerned with anti money laundering operations, to be known as the Anti Money Laundering Unit.

Section 4 of the Anti Money Laundering Act (2005) contains similar directives.

The draft Anti Money Laundering Bill, 2005 has been approved by the Cabinet.

The experience of legislation to combat money laundering is illustrative.

On the initiative of the Russian Federation, the Eurasian Group on Combating Money Laundering and Financing of Terrorism was formed, on 6 October 2004.

Most recently, the Asia Europe Meeting (ASEM) Anti Money Laundering Project's Financial Investigation Training was held in Bangkok on November 2004, covering the area of anti money laundering criminal investigations and long term undercover investigation operations targeting criminal organisations and money laundering systems.

Upon the adoption of the forthcoming law concerning action to combat money laundering and the financing of terrorism, the name will be changed to Agency for Combating Money Laundering and the Financing of Terrorism .

(6) working out the anti money laundering system of the company and exercising it

Section 14 of the Anti Money Laundering Act (2005) sets out the duties of banks and other financial institutions in the prevention and control of money laundering activities.

To be known as the Anti Money Laundering Unit, it will be competent to receive and analyse reports and information on any suspected money laundering operation.

The Anti Money Laundering (Miscellaneous Provisions) Act, which was passed in August 2003 and

(e) States should consider establishing FIUs to counter money laundering and, where applicable, participate in relevant regional and international anti money laundering mechanisms

(d) Increase in the number of pieces of national legislation related to money laundering and the financing of terrorism analysed in AMLID

Money laundering

Money laundering

Another underlined the importance of the work of the Global Programme against Money Laundering in supporting activities to combat money laundering, in particular through its mentoring programme.

The heads of State and Government of the Economic Community of West African States (ECOWAS) instituted by a decision dated 12 November 1999 an Intergovernmental Action Group against Money Laundering (GIABA).

Another underlined the importance of the work of the Global Programme against Money Laundering in supporting activities to combat money laundering, in particular through its mentoring programme.

The BMA has reviewed its AML CFT regulations of October 2001 to take account of the June 2003 Revised FATF Forty Recommendations.

Establishment by presidential decree of the Inter Agency Commission to Combat Money Laundering.