Nordic-Baltic Regional Report: Technical Assistance Report-Nordic-Baltic Technical Assistance Project Financial Flows Analysis, AML/CFT Supervision, and Financial Stability
IMF Staff Country Reports, September 4, 2023
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- Nordic-Baltic Regional Report: Technical Assistance Report-Nordic-Baltic Technical Assistance Project Financial Flows Analysis, AML/CFT Supervision, and Financial Stability
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Bibliographic details
- Published: September 4, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400252389.002
Scope and purpose
- Presents a regional report on the Nordic-Baltic technical assistance project: financial flows analysis, Anti-Money Laundering and combating the Financing of Terrorism (AML/CFT) Supervision, and Financial Stability.
- Purpose: to conduct an analysis of cross-border ML threats and vulnerabilities in the Nordic-Baltic region and issue a final report containing recommendations for mitigating the potential risks.
- Geographic scope: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden (the Nordic-Baltic Constituency or NBC).
Data and methodology
- Financial flows analysis is based on the IMF staff’s analysis of cross-border payments data.
- Monitoring cross-border financial flows is emphasized as a tool to gain a deeper understanding of external ML threat environment and evolving cross-border related risks.
Key findings and statistics
- Six out of the eight Nordic-Baltic countries have seen an increase in aggregate flows since 2013.
- Report length: 115 pages.
- Publication date: September 4, 2023.
- Volume: 2023; Issue: 320; Series: Country Report No. 2023/320.
- DOI: https://doi.org/10.5089/9798400252389.002
- Stock No: 1EUREA2023003
- ISBN: 9798400252389
- ISSN: 1934-7685
Analysis highlights and thematic emphasis
- Cross-border ML/TF risk: Leveraging broader analysis of ML/TF cross-border risk, the Nordic-Baltic countries should develop their own understanding of higher-risk countries reflecting country-specific ML/TF threats.
- Supervisory and stability linkages: The project links financial flows analysis with AML/CFT supervision and financial stability considerations to inform policy and supervisory responses.
Subjects and keywords (as listed)
- Subjects: Anti-money laundering and combating the financing of terrorism (AML/CFT), Correspondent banking, Crime, Financial sector policy and analysis, Financial sector stability, Financial services, Internal controls, International organization, Monetary policy, Revenue administration, Technology, Virtual currencies
- Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Baltics, colleges participation, Correspondent banking, EU Anti-Money Laundering Authority, Financial sector stability, Global, information Sharin, Internal controls, supervisory cooperation, TF risk, TF risk assessment, Virtual currencies
International Monetary Fund. Nordic-Baltic Regional Report: Technical Assistance Report-Nordic-Baltic Technical Assistance Project Financial Flows Analysis, AML/CFT Supervision, and Financial Stability, IMF Staff Country Reports 2023, 320 (2023).
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- 1eurea2023003