{
  "title": "France: Financial Sector Assessment Program-Technical Note-Anti-Money Laundering and Combating the Financing of Terrorism Regime in France",
  "publication": "IMF Staff Country Reports, October 29, 2019",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2019/10/28/france-financial-sector-assessment-program-technical-note-anti-money-laundering-and-48762",
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  "summary": "This technical note on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) regime in France summarizes the findings of a targeted review of France’s AML/CFT framework with respect to measures to prevent and combat terrorist financing (TF), risk-based supervision of banks, real e",
  "sections": [
    {
      "heading": "Summary of scope and purpose",
      "content": "- Summarizes findings of a targeted review of France’s AML/CFT framework with respect to:\n  - measures to prevent and combat terrorist financing (TF)\n  - risk-based supervision of banks, real estate agents, company service providers and lawyers\n  - measures to tackle cross-border crimes\n  - fintech\n- Provides a factual update on key measures taken by the authorities since France’s previous assessment."
    },
    {
      "heading": "Key findings",
      "content": "- Authorities are recommended to promote stronger AML/CFT controls by:\n  - enhancing supervision of lawyers and the real estate sector\n  - providing more guidance on cross-border money laundering threats\n- French banks are employing increasingly sophisticated tools, including machine learning, to carry out their due diligence obligations with respect to TF.\n- More systematic guidance on TF-related indicators and timely feedback may help banks’ detection of potential TF and reduce risks of financial exclusion."
    },
    {
      "heading": "Policy recommendations and operational measures",
      "content": "- Enhance supervisory intensity and coverage for:\n  - lawyers\n  - the real estate sector\n- Issue more targeted guidance on cross-border money laundering threats.\n- Provide systematic guidance on TF-related indicators to financial institutions.\n- Establish mechanisms for timely feedback to banks to improve detection of potential TF and mitigate risks of financial exclusion."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Crime, Technology, Terrorism, Terrorism financing, Virtual currencies\n- Keywords: ACPR, Anti-money laundering and combating the financing of terrorism (AML/CFT), Asia and Pacific, bank, CFT control, CFT measure, CFT obligation, company, company domiciliation agent, CR, Global, ISCR, Terrorism, Terrorism financing, TF risk, Virtual currencies\n\n---\n\n Content in this bundle\n\n- 1fraea2019009\n  - 1fraea2019009 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1fraea2019009 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: October 29, 2019",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513517827.002",
    "Summarizes findings of a targeted review of France’s AML/CFT framework with respect to:",
    "Provides a factual update on key measures taken by the authorities since France’s previous assessment.",
    "Authorities are recommended to promote stronger AML/CFT controls by:",
    "French banks are employing increasingly sophisticated tools, including machine learning, to carry out their due diligence obligations with respect to TF.",
    "More systematic guidance on TF-related indicators and timely feedback may help banks’ detection of potential TF and reduce risks of financial exclusion.",
    "Enhance supervisory intensity and coverage for:",
    "Issue more targeted guidance on cross-border money laundering threats.",
    "Provide systematic guidance on TF-related indicators to financial institutions.",
    "Establish mechanisms for timely feedback to banks to improve detection of potential TF and mitigate risks of financial exclusion.",
    "Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Crime, Technology, Terrorism, Terrorism financing, Virtual currencies",
    "Keywords: ACPR, Anti-money laundering and combating the financing of terrorism (AML/CFT), Asia and Pacific, bank, CFT control, CFT measure, CFT obligation, company, company domiciliation agent, CR, Global, ISCR, Terrorism, Terrorism financing, TF risk, Virtual currencies",
    "**1fraea2019009**"
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