Participation by Fund Staff in Anti-Money Laundering/Combating the Financing of Terrorism Assessments by Other Assessor Bodies

Staff may, in exceptional circumstances, join AML/CFT assessments, including follow-up assessments, led by other assessor bodies, provided that the following conditions are met:

1. The assessed country meets one of the following criteria: (i) the assessed country has strong financial, trade, economic, or legal linkages with a country or countries that are members of another FSRB [FATF-Style Regional Bodies], and the FSRB of the assessed country does not necessarily have the Fund’s global perspective and expertise, or (ii) the Fund has a particular interest in or expertise on a financial integrity-related issue in the assessed country, where such issue is determined to be macro-relevant.

2. The following safeguards are in place: Fund staff’s participation in an assessment is explained and delineated by a disclaimer in the assessment report, and Fund can pull out from an assessment if reputational and other risks arise that in the view of staff cannot be adequately mitigated. (SM/20/18, 01/10/20)

Decision No. A/14216-(20/8),

January 22, 2020