Jurisdictional AML/CFT Regime Advisory
- FIN is the primary AML/CFT advisor to the government of a Gulf jurisdiction. Pursuant to this engagement, FIN is providing comprehensive AML/CFT advisory services to the Central Bank and other public sector stakeholders. FIN has provided a broad variety of technical services and expertise to prepare the client for its upcoming FATF mutual evaluation, including assisting with the development of the national risk assessment, drafting AML/CFT-related legislation, and developing a national AML/CFT strategy. FIN has also worked directly with all relevant public sector agencies to train them in AML/CFT risks and best practices and prepare them for the mutual evaluation. FIN has engaged extensively with financial supervisors and the private sector, advising on the development of supervisors’ AML/CFT requirements and training financial institutions and other private sector stakeholders in compliance with national and global standards.
- FIN is currently serving as the AML/CFT advisor to the Ministry of Finance of a Gulf jurisdiction. As part of this engagement, FIN has conducted a high-level assessment of the client’s current AML/CFT regime, both through interviews with stakeholders and desk research. Following this assessment, and based on its findings, FIN has developed a strategy to remediate identified deficiencies and to bring the client’s regime fully in line with FATF standards.
- FIN has assisted two South American jurisdictions to prepare for a mutual evaluation, conducting a terrorist financing risk assessment and providing general technical advisory services.
- FIN staff have also worked with the World Bank Group and the International Monetary Fund on developing AML/CFT policies and providing technical assistance for jurisdictions in the MENA region. This has included reviewing the effectiveness of AML/CFT laws, regulations, and institutional frameworks and recommending improvements, supporting AML/CFT national risk assessments, and carrying out mutual evaluations of countries’ AML/CFT regimes to assess their effectiveness.