This quick guide explains the role of national risk assessments in addressing money laundering and terrorist financing (ML/TF) risks.
It explains how national risk assessments are conducted, challenges in terms of methodology and data availability, and how well countries are doing at performing them.
NRAs are a critical element of the Financial Action Task Force (FATF) standards on ML/TF. They also provide data in special reports of the Basel AML Index.
At a regional meeting of legal practitioners, politicians and academics from selected Latin American countries and Spain, participants converged on the need for a strong human rights focus in non-conviction based forfeiture (NCBF) laws – laws that allow the confiscation of assets without a criminal conviction.
Switzerland has launched administrative proceedings to confiscate over USD 100 million in assets linked to the regime of former Ukrainian president Viktor Yanukovych, with the ultimate aim of returning these to Ukraine.
The assets are held by a close associate of the former president, Yuriy Ivanyushchenko and his family. They have been frozen in Switzerland since Yanukovych was deposed in Ukraine’s 2014 Revolution of Dignity.
A newly amended law in the Seychelles will enable our partners at the Anti-Corruption Commission of Seychelles (ACCS) to more effectively prosecute corruption and associated money laundering cases, as well as to seize and confiscate proceeds of crime.
Kosovan financial investigators, police, prosecutors and judges have completed the first phase of an intensive Train-the-Trainer (TTT) programme on financial investigations and asset recovery.
Led by our International Centre for Asset Recovery (ICAR) training team in conjunction with UNDP and the Kosovo Judicial Academy, the five-phase TTT programme aims to result in four or five ICAR Certified Trainers while simultaneously training other local participants in the process.
The Government of Bulgaria and Basel Institute on Governance have signed a Memorandum of Understanding covering long-term collaboration in the country’s efforts to combat corruption and recover stolen public funds.
Our International Centre for Asset Recovery (ICAR) training team was in the Zimbabwean capital Harare at the end of April to deliver our flagship Financial Investigations and Asset Recovery training programme.
Within days of Russia’s illegal invasion of Ukraine, Western governments imposed unprecedented economic sanctions against the Russian state and certain Russian oligarchs. They are now working to identify and freeze assets linked to sanctioned individuals and entities – a magnificent challenge in itself.
The crypto industry has exploded in recent years, and authorities in different countries have been reacting in very different ways. Some have banned cryptocurrencies, while others are embracing them to varying degrees. Some are working hard to align their anti-money laundering regulations with FATF standards, while others are turning a blind eye. A few countries have confiscated huge quantities of crypto assets linked to crime and money laundering.
Nos complace anunciar que nuestro libro de acceso abierto, Enriquecimiento ilícito: una guía sobre las leyes que abordan los activos de procedencia inexplicable de Andrew Dornbierer, ya está disponible en español.