{ "title": "Project Summary:: Nordic-Baltic Technical Assistance Project – Financial Flows Analysis, AML/CFT Supervision, and Financial Stability", "publication": "High-Level Summary Technical Assistance Reports, September 4, 2023", "sourceUrl": "https://www.imf.org/en/publications/high-level-summary-technical-assistance-reports/issues/2023/09/01/project-summary-nordic-baltic-technical-assistance-project-financial-flows-analysis-aml-cft-538614", "canonical": "https://www.imf.org/en/publications/high-level-summary-technical-assistance-reports/issues/2023/09/01/project-summary-nordic-baltic-technical-assistance-project-financial-flows-analysis-aml-cft-538614", "overlayPath": "/en/publications/high-level-summary-technical-assistance-reports/issues/2023/09/01/project-summary-nordic-baltic-technical-assistance-project-financial-flows-analysis-aml-cft-538614/index.md", "summary": "This paper focuses on the summary of Nordic-Baltic Regional Technical Assistance Project Financial Flows Analysis, Anti-Money Laundering and combating the Financing of Terrorism (AML/CFT) Supervision, and Financial Stability.", "sections": [ { "heading": "Overview and context", "content": "- Authors: Grace Jackson, Maksym Markevych, Antoine Bouveret, Pierre Bardin, Alexander S Malden, Santiago Texidor Mora, Indulekha Thomas\n- Date: September 4, 2023\n- Series: High Level Summary Technical Assistance Report No. 2023/012\n- Issue: 012\n- Volume: 2023\n- Pages: 5\n- DOI: https://doi.org/10.5089/9798400253997.029\n- Stock No: HLSEA2023012\n- ISBN: 9798400253997\n- ISSN: 2959-4103" }, { "heading": "Key findings", "content": "- Various international banking scandals concerning AML/CFT breaches have taken place in the Nordic Baltic region, with far-reaching financial and reputational consequences.\n- Financial integrity issues could potentially present risks to financial stability in the short and medium term.\n- The depth of geographic ML/TF risk analysis and understanding differs among the Nordic-Baltic countries.\n- There has been clear investment in ML/TF risk models across the region, but gaps remain, notably in advanced data collection and analysis.\n- Quantifying the financial stability impact of money laundering shocks is an understudied area.\n- AML/CFT regimes in the region would benefit from better understanding of the ML threats associated with cross-border financial flows and nonresident activities." }, { "heading": "Policy implications and recommendations", "content": "- Enhance supervisory understanding of ML risks to address cross-border AML vulnerabilities.\n- Strengthen risk-based supervision of:\n - banks\n - crypto asset service providers\n- Deepen cooperation across jurisdictions in the Nordic-Baltic region to better manage cross-border financial flows and nonresident activities.\n- Invest in advanced data collection and analysis capabilities to improve geographic ML/TF risk analysis and to support quantification of financial stability impacts from money laundering shocks." }, { "heading": "Subject areas and keywords", "content": "- Subject: International organization, Monetary policy\n- Keywords: and Risk-Based Supervision, Anti-Money Laundering, Combatting the Financing of Terrorism, Financial Stability, Illicit Financial Flows, Machine Learning, Money Laundering Shocks\n\nHigh-Level Summary Technical Assistance Reports — Project Summary:: Nordic-Baltic Technical Assistance Project – Financial Flows Analysis, AML/CFT Supervision, and Financial Stability (September 4, 2023).\n\n---\n\n Content in this bundle\n\n- Hlsea2023012\n - Hlsea2023012 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n - Hlsea2023012 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/high-level-summary-technical-assistance-reports/issues/2023/09/01/project-summary-nordic-baltic-technical-assistance-project-financial-flows-analysis-aml-cft-538614" } ], "bullets": [ "[Markdown version](/en/publications/high-level-summary-technical-assistance-reports/issues/2023/09/01/project-summary-nordic-baltic-technical-assistance-project-financial-flows-analysis-aml-cft-538614/index.md)", "[Structured JSON version](/en/publications/high-level-summary-technical-assistance-reports/issues/2023/09/01/project-summary-nordic-baltic-technical-assistance-project-financial-flows-analysis-aml-cft-538614/index.json)", "[Bundle manifest](/en/publications/high-level-summary-technical-assistance-reports/issues/2023/09/01/project-summary-nordic-baltic-technical-assistance-project-financial-flows-analysis-aml-cft-538614/bundle-manifest.json)", "Authors: Grace Jackson, Maksym Markevych, Antoine Bouveret, Pierre Bardin, Alexander S Malden, Santiago Texidor Mora, Indulekha Thomas", "Published: September 4, 2023", "Series: High-Level Summary Technical Assistance Reports", "DOI: https://doi.org/10.5089/9798400253997.029", "Authors: Grace Jackson, Maksym Markevych, Antoine Bouveret, Pierre Bardin, Alexander S Malden, Santiago Texidor Mora, Indulekha Thomas", "Date: September 4, 2023", "Series: High Level Summary Technical Assistance Report No. 2023/012", "Issue: 012", "Volume: 2023", "Pages: 5", "DOI: https://doi.org/10.5089/9798400253997.029", "Stock No: HLSEA2023012", "ISBN: 9798400253997", "ISSN: 2959-4103", "Various international banking scandals concerning AML/CFT breaches have taken place in the Nordic Baltic region, with far-reaching financial and reputational consequences.", "Financial integrity issues could potentially present risks to financial stability in the short and medium term.", "The depth of geographic ML/TF risk analysis and understanding differs among the Nordic-Baltic countries.", "There has been clear investment in ML/TF risk models across the region, but gaps remain, notably in advanced data collection and analysis.", "Quantifying the financial stability impact of money laundering shocks is an understudied area.", "AML/CFT regimes in the region would benefit from better understanding of the ML threats associated with cross-border financial flows and nonresident activities.", "Enhance supervisory understanding of ML risks to address cross-border AML vulnerabilities.", "Strengthen risk-based supervision of:", "Deepen cooperation across jurisdictions in the Nordic-Baltic region to better manage cross-border financial flows and nonresident activities.", "Invest in advanced data collection and analysis capabilities to improve geographic ML/TF risk analysis and to support quantification of financial stability impacts from money laundering shocks.", "Subject: International organization, Monetary policy", "Keywords: and Risk-Based Supervision, Anti-Money Laundering, Combatting the Financing of Terrorism, Financial Stability, Illicit Financial Flows, Machine Learning, Money Laundering Shocks", "**Hlsea2023012**" ], "related": [ { "title": "Hlsea2023012", "role": "document", "sourceUrl": "https://www.imf.org/-/media/files/publications/hls/2023/english/hlsea2023012.pdf", "summary": { "path": "/-/media/files/publications/hls/2023/english/hlsea2023012.pdf.md", "mime": "text/markdown" }, "binary": { "path": "/-/media/files/publications/hls/2023/english/hlsea2023012.pdf", "mime": "application/pdf" } } ], "alternates": { "markdown": "/en/publications/high-level-summary-technical-assistance-reports/issues/2023/09/01/project-summary-nordic-baltic-technical-assistance-project-financial-flows-analysis-aml-cft-538614/index.md", "json": "/en/publications/high-level-summary-technical-assistance-reports/issues/2023/09/01/project-summary-nordic-baltic-technical-assistance-project-financial-flows-analysis-aml-cft-538614/index.json", "bundleManifest": "/en/publications/high-level-summary-technical-assistance-reports/issues/2023/09/01/project-summary-nordic-baltic-technical-assistance-project-financial-flows-analysis-aml-cft-538614/bundle-manifest.json" }, "generatedAtUtc": "2026-09-21T04:38:52.208Z" }