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© 2010 International Monetary Fund

October 2010

IMF Staff Country Report No. 10/321

Union of the Comoros: Report on Observance of Standards and Codes—FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

This Report on the Observance of Standards and Codes on the FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism for Union of the Comoros was prepared by the Fund staff. The views expressed in this document as well as in the detailed assessment report, on which it is based, are those of the FATF and do not necessarily reflect the views of the Government of Comoros or the Executive Board of the IMF.

Copies of this report are available to the public from

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INTERNATIONAL MONETARY FUND

UNION OF THE COMOROS

Report on Observance of Standards and Codes (ROSC)—FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT)

Prepared by the Legal Department

Approved by Sean Hagan

August 2010

ACRONYMS

AML/CFT

Anti-Money Laundering and Combating the Financing of Terrorism

CC

Criminal Code

DAR

Detailed Assessment Report

DNFPB

Designated Non-Financial Businesses and Professions

ESAAMLG

Eastern and Southern Africa Anti-Money Laundering Group

FATF

Financial Action Task Force

FIU

Financial Intelligence Unit

FT

Financing of Terrorism

IMF

International Monetary Fund

INTERPOL

International Criminal Police Organization

LEG

IMF Legal Department

ML

Money Laundering

NPO

Non-profit Organization

PEPs

Politically Exposed Persons

ROSC

Report on the Observance of Standards and Codes

STR

Suspicious Transaction Report

UNODC

United Nations Office on Drugs and Crime

UNSCR

United Nations Security Council Resolution

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Union of the Comoros: Report on Observance of Standards and Codes: FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism
Author:
International Monetary Fund