Egmont Group and the World Customs Organization publish AML-CFT handbook

In an article of 27 March 2020 the Egmont Group, the worldwide group of Financial Intelligence Units (FIUs), announced a AML-CFT handbook it has created together with the World Customs Organization (WCO). There is a public version of the handbook (pdf), that according to the name of the file is ‘sanitised’.

The handbook seems to concentrate on:

  • Smuggling and concealment of currency (bulk cash smuggling – BCS), currency equivalents, gems and precious metals.
  • Trade-based money laundering (TBML).
  • Money or value transfer systems and alternative remittance systems.

There seems to be a lot of overlap with the many other guidelines, standards and other documents on AML and CFT.

It shows the necessity that the deluge of AML/CFT documents produced by national and international organisations are assessed independently on quality and that steps are taken to limit the production of handbooks, guidelines etcetera.

Over Ellen Timmer, advocaat ondernemingsrecht @Pellicaan

Verbonden aan Pellicaan Advocaten, http://www.pellicaan.nl/, kantoor Rotterdam, telefoon 088-6272287, fax 088-6272280, e-mail ellen.timmer@pellicaan.nl ||| Weblogs: algemeen: https://ellentimmer.com/ || modernisering ondernemingsrecht: http://flexbv.wordpress.com/ ||| Motto: goede bedoelingen rechtvaardigen geen slechte regels
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