Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT)

Reference Materials

These Reference Materials reflect the main source documents on anti-money laundering (AML) and combating the financing of terrorism (CFT). The materials range from international legal instruments, such as United Nations Conventions and Security Council resulutions, to standards and best practices developed by bodies such as the Financial Action Task Force and the Egmont Group of Financial Intelligence Units. The page also provides a collection of model laws on AML/CFT as well as policy, research and publications on the subject. See reference materials on:

1. Anti-Money Laundering
2. Combating the Financing of Terrorism
3. Model Laws
4. Policy and Research/Publications

1. Anti-Money Laundering

Financial Action Task Force (FATF) - The FATF is an inter-governmental body whose purpose is the development and promotion of national and international policies to combat money laundering and terrorist financing.

• Forty Recommendations on Money Laundering
• Interpretative Notes to the Forty Recommendations
• Methodology for Assessing Compliance with the FATF 40+9 Recommendations

United Nations (UN) Instruments/Conventions

• Vienna Convention: UN Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances, December 19, 1988 and its status
• Palermo Convention: UN Convention Against Transnational Organized Crime, November 15, 2001 and its status
• Merida Convention: UN Convention Against Corruption, December 14, 2005 and its status

European Union (EU) Instruments/Conventions

• Warsaw Convention: Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism, May 16, 2005 and its status
• Strasbourg Convention: Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime, November 8, 1990
• Strasbourg Convention - Explanatory Report
• Directive 2005/60/EC: European Parliament and Council Directive on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing

Egmont Group of Financial Intelligence Units - Recognising the benefits inherent in the development of a financial intelligence units (FIU) network, in 1995, a group of FIUs at the Egmont Arenberg Palace in Brussels decided to establish an informal group for the stimulation of international co-operation. Now known as the Egmont Group, these FIUs meet regularly to find ways to cooperate, especially in the areas of information exchange, training and the sharing of expertise.

• Statement of Purpose (2004)
• Principles of Information Exchange (2001)
• Best Practice for the Improvement of Exchange of Information between Financial Intelligence Units (2004)
• Interpretative Note Concerning the Egmont Definition of a Financial Intelligence Unit

International Association for Insurance Supervisors (IAIS) - Established in 1994, the IAIS represents insurance regulators and supervisors of some 180 jurisdictions in more than 130 countries, constituting 97% of the world's insurance premiums.

• Guidance Paper on Anti Money Laundering and Combating the Financing of Terrorism, October 2004

Basel Committee on Banking Supervision

• Customer due diligence for banks
• Sharing of financial records between jurisdictions in connection with the fight against terrorist financing

Wolfsberg Principles - The Wolfsberg Standards consist of the various sets of AML Principles, as well as related Statements, issued by the Group since its inception.

• Wolfsberg Standards – AML Principles and Statements

Combating the Financing of Terrorism:

FATF - The FATF is an inter-governmental body whose purpose is the development and promotion of national and international policies to combat money laundering and terrorist financing.

• Nine Special Recommendations on Terrorist Financing&mdash
• Interpretative Note to Special Recommendations on Terrorist Financing
• International Best Practices
• Methodology for Assessing Compliance with the FATF 40+9 Recommendations

UN Instruments /Conventions

• International Convention for the Suppression of the Financing of Terrorism 1999
• UN Security Council Resolutions

EU Instruments/Conventions

• Council common position on combating terrorism (2001/930/CFSP), December 27, 2001
• Council common position on the application of specific measures to combat terrorism (2001/931/CFSP), December 27, 2001

International Organization of Securities Commissions (IOSCO)

• Objectives and Principles of Securities Regulation

Model Laws

Anti-Money Laundering

• IMF/UNODC Model Legislation on money laundering and financing of terrorism (2005) (also available in Russian)
• UN ODCCP Model Legislation on Laundering, Confiscation and International Cooperation with regard to Illicit Traffic in Narcotic Drugs, Psychotropic Substances and Precursors 2003 (French) (for civil law systems)
• Commonwealth Secretariat, IMF, and UNODC Model Provisions on Money Laundering, Terrorist Financing, Preventive Measures and Proceeds of Crime, 2009 (for common law legal systems)
• UNDCP Model Mutual Assistance in Criminal Matters Bill 2000 (for common law systems)
• UNDCP Model Foreign Evidence Bill 2000 (for common law systems)
• UNDCP Model Extradition (Amendement) Bill 2000 (for common law systems)
• UN Model Treaty on Mutual Assistance in Criminal Matters, 1990
• Commonwealth Model Law for the Prohibition of Money Laundering & Supporting Documentation, 1996
• OAS - CICAD Model Regulations Concerning Laundering Offenses Connected to Illicit Drug Trafficking and other Serious Offenses

Combating the Financing of Terrorism

• UN Model Terrorist Financing Bill, 2003 (for common law systems)

Policy and Research/Publications

• Compliance with the AML/CFT International Standard: Lessons from a Cross-Country Analysis
• The Relationship Between Illicit Coca Production and Formal Economic Activity in Peru
• Research Projects: An Overview of projects on AML/CFT
• Money Laundering and Terrorism Financing: An Overview. In Current Developments in Monetary and Financial Law, vol. 3, 2005.
• Recent Developments in International Monetary Fund Involvement in Anti-Money Laundering and Combating the Financing of Terrorism Matters. In Current Developments in Monetary and Financial Law, vol. 4, 2005.
• Financial Intelligence Units An Overview
• The Impact of Terrorism on Financial Markets IMF Working Paper
• Suppressing the Financing of Terrorism, A Handbook for Legislative Drafting Factsheet
• Reference Guide to Anti-Money Laundering and Combating the Financing of Terrorism
• Regulatory Frameworks for Hawala and Other Remittance Systems
• Money Laundering - Muddying the Macroeconomy
• The Methodology for Assessing Compliance with Anti-Money Laundering and Combating the Financing of Terrorism Standards. In Current Developments in Monetary and Financial Law, vol. 3, 2005.

• Anti-Money Laundering
• Combating the Financing of Terrorism
• Model Laws
• Policy and Research/Publications