Responding to FATF Fourth Round of Mutual Evaluations paper – 12/1/11

12 Jan 2011

IBFed has responded to a request for comments from the Financial Action Task Force (FATF) on the Fourth Round of Mutual Evaluations consultation paper.  In responding, IBFed reiterated its continuing support for the development of an efficient and effective set of recommendations to detect and deter money laundering and terrorist financing.  IBFed’s comments provide practical measures covering a wide range of compliance issues such as the Risk-Based Approach, Scope of the Criminal Offence of Money Laundering, Customer Due Diligence (CDD), Politically Exposed Person (PEPs) and Third Party Reliance.

Here is the IBFed response and the FATF consultation paper is available here.