Anti-Money Laundering and Combating the Financing of Terrorism
Post-course Statement
| This seminar was held at ADBI, Tokyo, from 5 to 9 July 2004. Seminar highlights included the discussions on an internal control case study and the preparation of action plans to improve anti-money laundering and combating the financing of terrorism measures in each country. The action plans are expected to be further improved and adopted when participants return to their countries.Private sector presentations brought another dimension to the seminar and stressed the importance of involving and interacting with private sector financial institutions in combating money laundering and financing of terrorism.Course presentations are published on this website. |
Background
There are growing concerns about money laundering and financing of terrorism. These are serious treats to the operation and stability of a nation's financial system. Money laundering also makes countries vulnerable to crime activities such as drug trafficking, fraud, and corruption.
In order to establish an effective anti-money laundering (AML) system and combat the financing of terrorism (CFT), Asia-Pacific developing countries need to strengthen legal and institutional framework, as well as build institutional capacity and government officials' skills, especially in financial supervision, financial analysis, financial intelligence, and investigation techniques.
Objectives
- To build the capacity of senior financial sector supervisors in issuing AML guidelines andsupervising financial institutions and coordinating with other agencies in combatingmoney laundering and financing of terrorism.
- To provide opportunities for participants to share experience in implementingAML/CFT
- To assist participants in preparing practical strategies/action plans for AML/CFT.
Outputs
- 35 trained participants in AML/CFT
- Prepared action plans to be adopted by participating countries
- Summary of proceedings
- Seminar materials that will be published in CD-ROMs and ADBI website
Participants
Senior financial sector supervisors from ADB’s developing member countries.
Language
English (No interpretation will be provided)
Responsibilities
Each participant is required to (i) participate in every session during the seminar and (ii)prepare an AML/CFT strategy/action plan. Suggested outline of the action plan will be sendto selected participants in advance.
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