Maldives; Report on Observance of Standards and Codes: FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

The financial sector of the Maldives, although small and not developed, is susceptible to both money laundering and, to a lesser extent, terrorist financing. This report focuses on observance of standards and codes for the FATF-40 (Financial Action Task Force) recommendations for antimoney laundering (AML) and nine special recommendations on combating the financing of terrorism (CFT) in the Maldives. It provides a summary of the AML/CFT measures in place in the Maldives and contains recommendations on how the AML/CFT system could be strengthened.

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Year of publication:	2012-01-04
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Banks \| Combating the financing of terrorism \| Financial institutions \| International cooperation \| Reports on the Observance of Standards and Codes \| Securities regulations \| money laundering \| terrorist \| terrorist financing \| terrorism \| competent authorities \| due diligence \| suspicious transactions \| law enforcement \| terrorist acts \| financing of terrorism \| terrorist organizations \| suspicious transaction report \| suspicious transaction \| legal entities \| beneficial ownership \| identification data \| shell banks \| record keeping requirements \| terrorist activities \| administrative sanctions \| internal controls \| financial intelligence unit \| terrorists \| business relationships \| foreign branches \| control information \| legal arrangements \| customer identification \| beneficial owners \| legal assistance \| factual circumstances \| wire transfer \| value transfer \| penal code \| secure techniques \| united nations security \| transaction reporting \| suspicious transaction reporting \| law enforcement agencies \| police service \| lawful purpose \| foreign counterparts \| law enforcement information \| financial transactions \| terrorist act \| criminal liability \| adequate powers \| assessment methodology \| international conventions \| money remitters \| risk management \| banking relationships \| transaction reports \| illegal funds \| confiscating assets \| anti-terrorism \| combating money \| reporting requirements \| foreign banks \| exchange information \| suspicious transaction reports \| good faith \| restrictive conditions \| independent source documents \| compliance officer \| enforcement authorities \| terrorist purposes \| unusual transactions \| dual criminality \| drug trafficking \| money remittance \| law enforcement authorities \| national security \| account files \| insurance intermediaries \| dissuasive sanctions \| assessment mission \| precious metals \| terrorist attack \| civil liability \| criminal justice \| risk management procedures \| international standards \| due diligence measures \| confiscation of property \| predicate crimes \| extraditable offenses \| professional privilege \| customer identification data \| business relations \| transaction reporting requirements \| risk categories \| control structure \| funds transfers \| combating money laundering \| prudential supervision

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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 12/2 1 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011245754