Armenia; Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism

This detailed assessment report focuses on antimoney laundering and combating the financing of terrorism (AML/CFT) for Armenia. The report reveals that Armeniaâ€™s financial system remains small and bank dominated. Total assets of the banking sector accounted for approximately 91 percent of the assets in the financial system. Most banks are domestically owned but there is a major foreign presence in the system. The nonbank financial sector plays a small role in financial intermediation.

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Year of publication:	2010-01-11
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Bank supervision \| Banks \| Central bank role \| Combating the financing of terrorism \| Financial institutions \| Financial sector \| Governance \| International cooperation \| Nonbank financial sector \| law \| law enforcement \| money laundering \| terrorism financing \| due diligence \| enforcement authorities \| law enforcement authorities \| financial secrecy \| business relationships \| legal entities \| criminal liability \| money remitters \| terrorist financing \| competent authorities \| suspicious transactions \| suspicious transaction \| precious metals \| beneficial owners \| customer identification \| combating money \| combating money laundering \| legal assistance \| dual criminality \| criminal case \| foreign exchange offices \| accounting firms \| internal audit \| professional secrecy \| legal entity \| identification data \| precious stones \| confiscation of property \| law enforcement agencies \| risk management \| internal procedures \| suspicious transaction report \| transaction reports \| risk customers \| banking secrecy \| financial supervision \| shell banks \| suspicious transaction reports \| secrecy provisions \| reporting obligations \| negotiable instruments \| legal arrangements \| risk management procedures \| criminal investigations \| compliance officer \| criminal investigation \| beneficial ownership \| transaction records \| administrative sanctions \| transaction reporting \| foreign counterparts \| record keeping requirements \| internal controls \| confidentiality requirements \| terrorist organizations \| wire transfer \| supervisory body \| anonymous accounts \| tax matters \| suspicious transaction reporting \| securities firms \| lawful purpose \| money laundering cases \| audit function \| compliance function \| supervisory bodies \| ensuring compliance \| licensing requirements \| predicate offences \| foreign banks \| financial intelligence unit \| unusual transactions \| exchange information \| account files \| risk scenarios \| civil forfeiture \| cross border transportation \| tax authorities \| extradition requests \| law enforcement bodies \| supervisory authorities \| restrictive conditions \| reporting requirements \| international standards \| financial intelligence units \| cash transactions \| settlement systems \| insurance intermediaries \| money remittance \| tax evasion \| predicate offence \| intelligence units \| criminal proceeds \| narcotic drugs \| reporting forms \| criminal law \| investigative techniques \| criminal activity \| shell bank \| control information \| criminal organizations \| foreign branches \| counterfeiting currency \| customer identification data \| investigative measures \| criminal prosecution \| compliance management arrangements \| terrorist acts \| technical resources \| value transfer \| organized crime \| property rights \| supervisory regime \| financial records \| factual circumstances \| illicit trafficking \| offshore jurisdictions \| currency transactions \| supervisory authority \| due diligence measures \| foreign counterpart \| site assessments \| criminal offence \| money laundering offence \| international law \| risk sensitive basis \| account number \| international conventions \| internal policies \| stateless persons \| technical capacity \| confiscated property \| customer identification requirements \| financial crime \| regulatory measures \| money laundering investigations \| illegal proceeds \| criminal record \| terrorist activities \| risk profile \| combat money laundering \| secrecy law \| secrecy laws \| national centre \| legal assistance requests \| financial activity \| share information \| supervisory responsibilities \| securities accounts \| fictitious names \| criminal activities \| alternative remittance \| asset forfeiture fund \| adequate powers \| supervisory framework \| environmental crimes \| adequate confidentiality \| banking supervision \| professional privilege \| financial investigations \| financial crimes \| criminal laws \| confiscated assets \| money orders \| drug trafficking \| correspondent bank \| assessment methodology \| regulatory authority \| insurance law \| money market instruments \| money laundering schemes \| criminal sanctions \| liquid securities \| face to face business \| extraditable offenses \| internal control systems \| market manipulation \| secure techniques \| terrorist assets \| client money \| payable through accounts \| currency changing \| insurance business \| due diligence process \| mutual evaluation \| criminal acts \| judicial proceedings \| foreign jurisdiction \| transferable securities \| extraditable offence \| reinsurance companies \| illicit arms trafficking \| licensing process \| domestic counterparts \| illicit funds \| foreign exchange transactions \| financial intermediaries \| supervisory frameworks \| ethical standards \| insider trading \| licensing authority \| criminal group \| confiscating assets \| suspected money laundering \| foreign exchanges \| terrorist financing purposes \| non financial businesses \| due diligence procedures \| cash transaction \| supervisory process \| banking relationships \| prudential supervision \| business relations \| assessment mission \| domestic law \| internal auditing \| shared property \| financial leasing arrangements \| financial investigators \| combating terrorism financing \| securities issues \| exchange systems \| financial regulation \| rudimentary requirements \| administrative liability \| dissuasive sanctions \| investigative powers \| search warrants \| trust service providers \| predicate crimes \| financing abuse \| reporting suspicions \| risk management systems \| foreign authority \| insurance supervisors \| internet casinos \| information exchange \| risk categories \| appropriate compliance management arrangements \| securities activities \| charitable organizations \| risk management practices \| financial operations \| law enforcement information \| regulatory bodies \| control structure \| laundered property \| internal programs \| electronic money \| property interests \| alternative remittance activity \| customer transactions \| formal extradition proceedings \| know your customer \| transmitting funds \| designated thresholds \| criminal justice \| criminal matters \| domestic wire transfers \| market participants \| foreign regulators \| life insurance \| domestic legislation

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 10/9 45 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011244913