2007 Stolen Asset Recovery (StAR) Initiative: A partnership between the UN Office on Drugs and Crime and the WBG, StAR works with developing countries and financial centers to prevent the laundering of the proceeds of corruption and to facilitate more systematic and timely return of stolen assets. StAR has actively assisted in the freezing or ...
Actively assists in the implementation of transparency and accountability efforts such as Extractive Industries Transparency Initiative , Publish What You Pay, Fisheries Transparency, Anti-Money Laundering rules.
Although the international standards on money laundering- as laid out in the 40 Recommendations Against Money Laundering of the Financial Action Task Force – oblige countries to ensure that these categories of professionals are subject to Anti-Money Laundering (AML) obligations, the reality is that few countries have put these obligations ...
Guidance on anti-money laundering and terrorist financing measures and financial inclusion, which supports countries and financial institutions in designing AML/CFT measures that meet the national goal of financial inclusion, without compromising the measures that exist for the purpose of combating crime. 3
The findings imply if the cost of CBRs could be lowered through fintech or other tools, or if risk could be reduced through effective anti-money laundering (AML) regime, CBRs would be a more attractive business line for global banks.
Navigating Essential Anti-Money Laundering and Combating the Financing of Terrorism Requirements in Trade Finance: A Guide for Respondent Banks . IFC’s Trade and Commodity Finance programs offer guarantees, risk-sharing facilities, loans and other structured products to support trade in emerging markets. Through these various products, IFC ...
Laundering and Financing of Terrorism? Money laundering is the process of disguising the illegal origin of criminal proceeds without disclos-ing their source.4 Illicit proceeds are derived from diverse criminal activities, including illegal arms sales, smuggling, organized crime, corruption, embezzlement, drug trafficking, and human traf-ficking.
ing the financial sector’s stability, or decreasing Anti-Money Laundering/Combating the Financing of Terrorism risks through higher formalization of the economy, are a few of the many tangible virtues of high financial inclusion rates. Organizations such as the G20, the United Nations, and the World Bank have thus committed to advance
With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.
The RAS program was designed to support business model reform and corporate governance in the banking sector, the development of a credit reporting system, the administration of national risk assessments with regard to money laundering and terrorist financing, and the strengthening of macroeconomic statistics.