Financial Action Task Force (FATF) Recommendations Training Course

Introduction

Overview of FATF

• Introduction to FATF: history and purpose for government operations
• FATF membership and governance structures for government agencies
• Key objectives and functions of FATF in the context of public sector accountability

Understanding Money Laundering and Terrorist Financing

• Definitions and fundamental concepts for government professionals
• Typologies and techniques used in money laundering and terrorist financing
• Case studies and real-world examples relevant to government agencies

The 40 FATF Recommendations

• Introduction to the 40 recommendations for government compliance
• Structure and organization of the recommendations for effective implementation
• Importance and impact on global financial systems for government oversight

Legal Systems and Operational Issues

• Recommendations 1-4: risk-based approach, national cooperation, and international cooperation in a governmental context
• Recommendations 5-8: criminalization of offenses, preventive measures, and regulation of non-profit organizations for government enforcement
• Recommendations 9-12: regulatory frameworks for financial institutions and non-financial businesses and professions for government oversight

Preventive Measures

• Recommendations 13-16: customer due diligence, record keeping, and reporting requirements for government entities
• Recommendations 17-21: reliance on third parties, internal controls, and management of foreign branches and subsidiaries for government agencies
• Recommendations 22-23: measures for designated non-financial businesses and professions (DNFBPs) in a governmental setting

Transparency and Beneficial Ownership

• Recommendations 24-25: transparency and beneficial ownership of legal persons and arrangements for government compliance

Powers and Responsibilities of Competent Authorities

• Recommendations 26-29: regulation and supervision by competent authorities in the public sector
• Recommendations 30-32: law enforcement and investigative powers for government agencies

International Standards and Cooperation

• Recommendations 33-35: mutual legal assistance and extradition processes for international cooperation among governments
• Recommendations 36-40: implementation of international instruments, cooperation frameworks, and other measures by government entities

Implementation and Compliance

• National risk assessment and compliance strategies for government agencies
• FATF evaluation and monitoring processes for government oversight
• Case studies of implementation and challenges faced by governments

Practical Workshop

• Developing comprehensive compliance programs for government entities
• Conducting thorough risk assessments in a governmental context

Summary and Next Steps