20th Annual Meeting, Colombo, Sri Lanka
KEY OUTCOMES OF 20TH ANNUAL MEETING
The APG held its 20th annual meeting in Colombo, Sri Lanka from 17 to 21 July 2017. The meeting was chaired by the APG co-chairs, Mr H Amarathunga, Director of the Sri Lanka Financial Intelligence Unit and Deputy Commissioner Leanne Close of the Australian Federal Police. The principal outcomes of this year’s annual meeting were as follows:
Important governance decisions were made, including:
restructuring APG working and governance groups to better manage our business programmes in the coming years.
membership-related decisions as well as high level action in relation to some APG members who continue to have serious deficiencies in their AML/CFT systems.
Mutual Evaluation Programme
Five mutual evaluation reports were adopted for the following APG members:
United States (jointly with the FATF).
The US report has been published via the FATF and APG websites. The other four reports are expected to be published in late August 2017.
The APG also adopted third round mutual evaluation follow-up reports of Bangladesh, Bhutan, Fiji, Samoa, Sri Lanka and Vanuatu, and FATF follow-up reports of Australia and Malaysia (joint APG/FATF members). Afghanistan, Brunei Darussalam, Nepal, Pakistan, Philippines, Chinese Taipei and Vietnam exited transitional mutual evaluation follow-up in recognition of their significant progress in implementing the FATF standards.
Global AML/CFT Network
The membership discussed the FATF’s terrorist financing fact finding initiative, and adopted new procedures to manage referrals from the FATF’s ICRG relating to APG members coming out of ICRG monitoring with residual issues of concern for the FATF.
Also adopted were the following reports and new initiatives:
the joint APG / UN Office on Drugs and Crime (UNODC) report Enhancing the Detection, Investigation and Disruption of Illicit Financial Flows from Wildlife Crime. The report highlights the scale of wildlife crime and related money laundering, both regionally and globally, and provides a range of case studies, key findings, recommendations and good practices that may assist jurisdictions combat wildlife crime by following related money flows.
the 2017 APG Yearly Typologies Report which includes approximately 120 cases received from 29 jurisdictions and international organisations as well as links to the typologies reports of some APG members and new typologies studies completed by partner organisations.
a new project entitled Money Laundering and Terrorism Financing Risks Arising from Trafficking in and Smuggling of Human Beings. Phase 1 of this project will be conducted jointly with the FATF. Phase 2 will be conducted solely by the APG and includes people smuggling and implementation support for measures to combat human trafficking and smuggling.
The membership held the Annual Forum on Technical Assistance and Training which included 30 individual sessions between members and donors of AML/CFT technical assistance and led to important information sharing and coordination among the APG’s members, observers, donors and providers.
Members also endorsed a continuing project on de-risking which aimed at identifying good practices for risk-based supervision and international cooperation between supervisors. This project will focus on those sectors most exposed to de-risking challenges, in particular remittance providers and related banking services.