Transcription of Implementation of Anti-Money Laundering Standards in Asia
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Implementation of Anti-Money Laundering Standards in Asia
Asia Focus is a periodic newsle er issued by the Country Analysis Unit of the Federal Reserve Bank of San Francisco. The informa on contained in this newsle er is meant to provide useful context and insight into current economic and financial sector developments in the Asia Pacific region. The views expressed in this publica on are solely that of the author and do not necessarily represent the posi on of the Federal Reserve System. Global money Laundering and terrorist financing activities impose significant costs on and create risks to the world economy through disruptions in orderly and transparent economic activity, and political and social unrest. To address these challenges, Asian governments and regulators have adopted Standards set by the intergovernmental Financial Action Task Force (FATF) to strengthen their Anti-Money Laundering (AML) and combating the financing of terrorism (CFT) regimes. Economies in the region have strengthened AML laws, established financial intelligence units, developed AML/CFT supervisory frameworks for financial institutions, and improved coordination and cooperation between national agencies and across economies.
Asia Focus is a periodic newsle ©er issued by the Country Analysis Unit of the Federal Reserve Bank of San Francisco.The informa on contained in this newsle ©er is meant to provide useful context and insight into current economic and financial sector developments in the Asia Pacific region.The views expressed in this publica on are solely that of the author and do not necessarily represent ...
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