United States: Publication of Financial Sector Assessment Program Documentation: Technical Note on Anti-Money Laundering/Combating the Financing of Terrorism
IMF Staff Country Reports, July 30, 2010
Source details
- Canonical URL
- United States: Publication of Financial Sector Assessment Program Documentation: Technical Note on Anti-Money Laundering/Combating the Financing of Terrorism
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Bibliographic details
- Published: July 30, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455206803.002
Overview
- The Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) regime of the United States is overviewed.
- The United States has implemented a system that is broadly in line with the international AML/CFT standard.
- Many of the recommendations made by the evaluators to address the identified deficiencies have not been addressed, but efforts are under way; notably to introduce a uniform legislation that would require information on beneficial ownership and control of legal persons and arrangements across all the states.
Key findings
- The United States’ AML/CFT system is "broadly in line with the international AML/CFT standard."
- Identified deficiencies remain unaddressed for many evaluator recommendations.
- A notable reform effort under way: introduction of uniform legislation to require information on beneficial ownership and control of legal persons and arrangements across all the states.
Subject areas and keywords
- Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, Legal support in revenue administration, Money laundering, Revenue administration, Terrorism financing
- Keywords: AML program, AML regime, Anti-money laundering and combating the financing of terrorism (AML/CFT), Asia and Pacific, CFT obligation, CFT regime, CFT requirement, CFT requirements, CFT system, CR, financial institution, Global, ISCR, law enforcement authorities, Legal support in revenue administration, Money laundering, North America, Terrorism financing