Relationship to the FATF
As noted in the History and Background section of this website, the APG evolved from initial awareness-raising efforts by the FATF in the early 1990s.
The APG's Terms of Reference recognise that the FATF's 40 recommendations are the international standards against money laundering and the financing of terrorism. The APG Terms of Reference include a commitment that APG members must implement the FATF 40 Recommendations according to their particular constitutional frameworks. Those Terms of Reference also state that:
"To ensure a global approach to combating money laundering and the financing of terrorism and proliferation, and as an Associate Member of the FATF, members of the APG will work closely with the FATF and other FATF-style regional bodies. The FATF President and FATF Secretariat will attend APG meetings on the same basis that the APG Co-Chairs and Secretariat attend FATF meetings."
A Global Network
The APG, the FATF and other regional anti-money laundering bodies (FATF-style regional bodies), constitute an global network to combat money laundering, the financing of terrorism and the financing of proliferation. The other FATF-style regional bodies are:
- Caribbean Financial Action Task Force (CFATF) based in Trinidad and Tobago;
- Eurasian Group (EAG) based in Moscow, Russia;
- Eastern & Southern Africa Anti-Money Laundering Group (ESAAMLG) based in Dar es Salaam, Tanzania;
- Task Force on Money Laundering in Central Africa (GABAC) based in Libreville, Gabon;
- Latin America Anti-Money Laundering Group (GAFILAT) [formerly South America Anti-Money Laundering Group (GAFISUD)] based in Bueno Aires, Argentina;
- West Africa Money Laundering Group (GIABA) based in Dakar, Senegal;
- Middle East and North Africa Financial Action Task Force (MENAFATF) based in Bahrain;
- Council of Europe Anti-Money Laundering Group (MONEYVAL) based in Strasbourg, France (Council of Europe).
This network is committed to reducing serious financial and economic crime around the globe.
All regional bodies use the FATF's 40 recommendations as their principle guidelines for the implementation of effective AML/CFT measures. The APG also uses similar mechanisms to those used by the FATF to monitor and facilitate progress for effectively implementing the recommendations.
Since its establishment, the APG has worked closely with the FATF and have reciprocal rights of attendance at each others meetings as well as reciprocal sharing of documents and participation in committees and working groups. The APG and FATF undertake joint mutual evaluations of common members of both organisations.
APG's Associate Membership in the FATF
In 2006 the APG was granted Associate Membership in the FATF, which permits the APG to have direct access into the policy-making and standard-setting process of the FATF. Non-FATF APG members may attend FATF plenary meetings as APG delegates under this arrangement. However, associate membership does not grant membership in the FATF to individual APG members. The status is granted to the APG as an organisation. Consequently individual APG member jurisdictions who attend FATF meetings do so as "APG delegates" and not in their own capacity. The APG typically has a large delegation to FATF meetings consisting of many APG member jurisdictions from across the Asia-Pacific.
In July 2007 the APG agreed that FATF-style regional bodies admitted to the FATF as associate members are automatically observers in the APG. All FSRBs are now observers in the APG under this mechanism.