As part of the action plan endorsed by the IMFC, in December 2002 Fund/Bank staff completed a study on the “Informal Funds Transfer systems: An Analysis of the Informal Hawala System”, which explored how these systems work and the regulatory implications. The study will be published as an occasional paper later this year..
Another condition was that the FATF not undertake a further round of the noncooperative countries and territories (NCCT) initiative, at least during the period of the 12-month pilot project.
On November 15, 2002, the Executive Board of the IMF formally endorsed the methodology and the commencement of the pilot program on a lapse-of-time basis (SM/02/349).
From October 2002 to October 2003, a number of mutual evaluations by FSRBs will not use the methodology and, hence, will not qualify as assessments under the pilot project.
Two stand-alone AML/CFT assessments are also part of the pilot. These assessments are being conducted as follow-ups to earlier FSAPs.
IAEs are required to sign a confidentiality agreement to enable staff to share relevant information with them for the assessment. The IAEs are either selected by staff from a roster of experts (compiled by staff primarily from names submitted by member jurisdictions of the FATF/FSRBs and the Egmont Group of Financial Intelligence Units) or are selected on the basis of nominations by the secretariats of the FATF/FSRBs.
The range reflects uncertainty as to whether the CFATF and GAFISUD will use the methodology for four jurisdictions scheduled for mutual evaluations that are also scheduled for assessments as part of FSAPs.
Excludes possible mutual evaluations contemplated by ESAAMLG but as yet not scheduled.
Argentina, Australia, Austria, Belgium, Brazil, Canada, Denmark, European Commission, Finland, France, Germany, Greece, Gulf Co-operation Council (Bahrain, Kuwait, Qatar, Sultanate of Oman, Saudi Arabia, and the United Arab Emirates), Hong Kong SAR, Iceland, Ireland, Italy, Japan, Luxembourg, Mexico, Kingdom of the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, Turkey, United Kingdom, and the United States.
Australia, Bangladesh, Cook Islands, Fiji, Hong Kong SAR, India, Indonesia, Japan, Macao SAR, Malaysia, Marshall Islands, Nepal, New Zealand, Niue, Pakistan, Republic of Korea, Palau, Philippines, Samoa, Singapore, Sri Lanka, Taiwan Province of China, Thailand, United States, and Vanuatu.
Anguilla, Antigua and Barbuda, Aruba, Bahamas, Barbados, Belize, Bermuda, British Virgin Islands, Cayman Islands, Costa Rica, Dominica, Dominican Republic, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Montserrat, Netherlands Antilles, Nicaragua, Panama, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, Trinidad and Tobago, Turks and Caicos Islands, and Venezuela.
Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, and Uruguay.
Formerly known as the PC-R-EV. Albania, Andorra, Armenia, Azerbaijan, Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, Georgia, Hungary, Latvia, Liechtenstein, Lithuania, Malta, Moldova, Poland, Romania, Russian Federation, San Marino, Slovakia, Slovenia, Former Yugoslav Republic of Macedonia, and Ukraine.
Botswana, Kenya, Lesotho, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South Africa, Swaziland, Tanzania, Uganda, Zambia, and Zimbabwe.
Aruba, Bahamas, Bahrain, Barbados, Bermuda, Cayman Islands, Cyprus, Gibraltar, Guernsey, Hong Kong SAR, Isle of Man, Jersey, Mauritius, Netherlands Antilles, Panama, Singapore, and Vanuatu.
A list of Egmont Group members can be found at http://www1.oecd.org/fatf/Ctry-orgpages/orgegmont_en.htm.
A multi-donor independent trust aimed at promoting robust and diverse financial sectors in developing and transition countries.