Combating Money Laundering and the Financing of Terrorism: A Comprehensive Training Guide

Developed to support the World Bank’s Capacity Enhancement Program on AML/CFT. The program offers countries the tools, skills and knowledge to build and strengthen their institutional, legal and regulatory frameworks for developing a robust AML/CFT regime.  The guide is comprised of the following eight Modules:

1. Effects on Economic Development & International Standards
2. Legal Requirements to meet International Standards
3a. Regulatory and Institutional Requirements
3b. Compliance Requirements for Financial Institutions
4. Building an Effective Financial Intelligence Unit
5. Domestic (inter-agency) and International Cooperation
6. Combating the Financing of Terrorism
7. Investigating Money Laundering and Terrorist Financing

This guide presents key elements for an effective AML/CFT on-site and offsite supervisory system and proposes appropriate tools and methodologies. It is important to note that the examples given represent practices the authors believe can provide useful guidance to bank supervisors. They should not be regarded as definitive models, nor should it be inferred that the countries from which they are drawn are fully compliant with all applicable AML/CFT standards.

This study undertakes an analysis of the various dynamics
underlying the Canada-Caribbean remittance corridor, including Caribbean migration issues and diaspora dynamics, remittance market landscapes, and regulatory frameworks. The study is intended to assist Canadian and Caribbean national authorities to sustain the continued growth and competitiveness of their remittance industries, while protecting them from being abused by criminals.

More BRCA Publications

Stolen Asset Recovery: Guide on Non-Conviction Based (NCB) Asset Forfeiture 

NCB asset forfeiture is a legal regime that provides for the seizure and forfeiture of the proceeds of serious crime, including corruption, without the need for a criminal conviction. NCB is often the only option that governments can use when the corrupt official or the person paying the bribe is dead, has fled the jurisdiction, is immune from prosecution, or is too powerful to prosecute - all common in cases of grand corruption.

Mobile Phone Financial Services Paper, 2008 

This working paper explores strategies to identify and manage potential money laundering (ML) and terrorist financing (TF) risks in mobile financial services. Using fieldwork in seven economies as a basis, the paper provides guidance on the best means of assessing perceived versus actual ML and TF risks, then identifies specific measures to mitigate the actual risks. The paper concludes with recommendations that aim to promote a regulatory balance to foster an enabling environment for business while minimizing ML and TF risks that hinder its sustainability. A second edition with updated business models and regulatory best practices will be published in late 2009.

The World Bank co-leads the United Nations Working Group on Tackling the Financing of Terrorism with the IMF and the UN Office on Drugs and Crime. We are supported by INTERPOL, the Al-Qaida/Taliban Monitoring Team and the Counter-Terrorism Committee. The group has made a report with a series of concrete findings and recommendations on methods of terrorist financing, existing mitigation measures and recommendations to policymakers and standard setters moving forward. The report was announced UN General Assembly in March 2009.

Reference Guide to Anti-Money Laundering and Combating the Financing of Terrorism

The Second Edition of the Reference Guide is intended to serve as a single, comprehensive source of information for countries that wish to establish or improve their legal and institutional frameworks for anti-money laundering (AML) and combating the financing of terrorism (CFT).

The publication is available in different languages:
English  Français  Español  Arabic


Português  Russian  Vietnamese 中文 ( Chinese)
Pусский

AML/CFT Regulation: Implications for Financial Service Providers that Serve Low-income People, 2005

Across the world, new AML/CFT measures are being introduced and existing measures tightened. All financial service providers, including those working with low-income communities, are—or will—be affected by these measures.  This paper summarizes the implications of the international framework, particularly for financial service providers working with low-income people.

Financial Intelligence Units: An Overview, 2004

This handbook covers topics related to Financial Intelligence Units (FIUs), beginning with the key steps necessary for establishing them and the various forms they can be given in a government structure.  The handbook offers many examples of existing FIU settings and arrangements, in order to provide policymakers and legislators with the widest possible palette of country experiences. and to help them design FIUs that best serve the purposes of their own jurisdictions.

Strengthening the Collaborative Process for Building an Effective Anti-Money Laundering and Counter-Terrorism Financing Regime in Afghanistan, 2004

The Global Dialogue Series on AML/CFT was designed to foster discussion and exchanges of views among the staff from the Group as well as representatives of client countries, the International Monetary Fund (IMF), regional bodies emulating the international Financial Action Task Force, regional development banks, and other international organizations. The resulting information focuses on the challenges faced in the struggle against illicit money flows, the lessons of successes, and the types of assistance countries need to manage effective AM/CFT programs..

This paper summarizes the dialogue held in June 2004 for Afghanistan, which brought together representatives from the World Bank, IMF and regulatory and financial sector representatives, to exchange experience and information regarding Afghanistan’s recent AML/CFT experience and the challenges associated with developing and implementing an AML/CFT strategy for the country.

This set of best practices is intended to accomplish three things. First, it helps jurisdictions develop and implement domestic systems that are compatible with international AML/CFT standards. Second, it serves as a benchmark when countries develop internal consultative processes. Finally, it guides the efforts of the public and private sectors to build stronger AML/CFT regimes.

The authors point out that, although these elements are essential in strengthening an AML/CFT regime, they are not sufficient by themselves. Each jurisdiction’s culture and economy, as well as legal and law enforcement traditions, must also be considered.

The World Bank in the Global Fight Against Money Laundering and Terrorist Financing, 2003

This brochure defines the effects of money laundering and terrorism financing, solutions to fight it, and the World Bank’s role in the global AML/CFT effort.