Role
The APG has a number of roles as stated in its strategic plan including:
- assessing APG members' compliance with the international AML/CFT standards through a programme of mutual evaluations;
- supporting implementation of the international AML/CFT standards, including coordinating multi-lateral and bi-lateral technical assistance and training with donor countries and agencies;
- conducting research and analysis into money laundering and terrorist financing trends and methods; and
- 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.
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. 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 Offshore Group of Banking Supervisors. The final reports are considered in the APG plenary at the annual meeting and upon completion of that examination are published on the APG website in accordance with internal policy.
The APG also has a robust technical assistance and training function in the region. The APG was the first FATF-Style Regional Body to have formal institutionalised processes for technical assistance and training coordination relating to AML/CFT issues. Each year a number of missions are conducted in the region to assess technical and training needs of various jurisdictions after which the Secretariat coordinates the delivery of assistance from multi-lateral and bi-lateral donors. The APG recently developed a "Strategic Implementation Planning Framework" which assists countries to prioritize and implement the complex recommendations made in APG mutual evaluation reports. The framework was developed jointly with the World Bank.
The APG has a Typologies Working Group which examines trends in money laundering and terrorist financing in the Asia-Pacific region. The reports of this Working Group are published on the APG website and provide sanitised case studies from APG members which in turn assist policy makers and law enforcement agencies in understanding how to target resources to prevent these crimes both at the domestic and the international level. Some of the reports published by the APG include money laundering trends in the gambling and casino sector; the risks of money laundering and terrorist financing through alternative remittance systems and underground banking; and trade-based money laundering.
The APG is also an Associate Member of the Financial Action Task Force which permits individual APG members to attend FATF meetings as APG delegates and intervene on policy and operational issues. The APG also conducts joint meetings with the FATF and other FATF-style bodies around the world.
Read more about this topic: Asia/Pacific Group On Money Laundering
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