Georgia: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism

January 8, 2013

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Format: Chicago

Georgia: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism, (USA: International Monetary Fund, 2013) accessed September 18, 2024

Summary

The Georgian antimoney laundering (AML) and combating the financing of terrorism (CFT) regime has significantly improved since 2007. However, technical deficiencies, poor implementation, and limited resources undermine the effectiveness of the financial intelligence unit (FIU) and AML/CFT supervision. The country has a comprehensive legal framework in place criminalizing both ML and FT as autonomous offenses and no shortcomings have been identified. It has also established a framework to implement the relevant United Nations Security Council Resolutions (UNSCRs).

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Crime, Legal support in revenue administration, Money laundering, Revenue administration, Terrorism financing

Keywords: AML law, Anti-money laundering and combating the financing of terrorism (AML/CFT), Beneficial owner, Central bank, CFT law, CFT obligation, Court order, CR, Criminal offense, Economic activity, Electronic money, FMS decree, Global, ISCR, Law of Georgia, Legal support in revenue administration, Money laundering, Terrorism financing

Publication Details

Pages:

467
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2013/004
Stock No:

1GEOEA2013001
ISBN:

9781475529982
ISSN:

1934-7685

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