The APG also has an extensive technical assistance and training function in the region. The final reports are considered at the APG annual meeting each year and upon completion of that examination are adopted then published on the APG website in accordance with internal policy. Some of these reports are conducted jointly with other AML/CFT bodies such as the FATF, the International Monetary Fund, the World Bank and the Group of International Financial Centre Supervisors. The APG conducts mutual evaluations of its members to determine whether they comply, or to what extent they comply, with their obligations to implement the global anti-money laundering and anti-terrorist financing standards. Private sector engagement includes interacting with financial and non-financial institutions, academia and the media. engaging with the private sector to raise awareness in the region on AML/CFT issues.participating in, and co-operating with, the international AML/CFT network and contributing to global policy development of the standards through associate membership in the FATF and.conducting research and analysis into money laundering and terrorist financing trends and methods.supporting implementation of the international AML/CFT standards, including coordinating multi-lateral and bi-lateral technical assistance and training with donor countries and agencies.assessing APG members' compliance with the international anti-money laundering/combating the financing of terrorism (AML/CFT) standards through a programme of mutual evaluations.Their improved content will form the basis of a further round of country evaluations commencing after 2024.ĪPG has a number of roles as set out in its strategic plan, including: Both of these documents are under review by the FATF to be completed by 2024 to take into account a number of issues both technical and effectiveness related as a result of the FATF's fourth round of evaluations that commenced in 2014. These standards, originally issued in 1990, were substantially updated in 2001 and then again in 2012, and were supplemented by a complex assessment methodology in 2013 which forms the benchmark for mutual evaluations. Jurisdictions that join the APG, either as members or as observers, commit to effectively implement, in law and regulation, the 40 Recommendations of the Financial Action Task Force (FATF). The annual meeting in July 2022 was convened in Kuala Lumpur, Malaysia. The year 2022 marked the 25th anniversary of the formal establishment of APG. APG was founded in 1997 in Bangkok, Thailand, and currently consists of 41 member jurisdictions in the Asia-Pacific region and a number of observer jurisdictions and international/regional observer organisations. The Asia/Pacific Group on Money Laundering (APG) is a FATF style regional inter-governmental (international) body, the members of which are committed to effectively implementing the international standards against money laundering (AML), the financing of terrorism (CTF) and financing the proliferation of weapons of mass destruction. Associate Assistant Deputy Minister of Finance Julien Brazeau
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