Vad är cft i aml

Jurisdictions outlaw money laundering (ML) to achieve three main objectives: (i) to curb criminality in general bygd making it difficult for criminals to reap the proceeds of their crimes; (ii) to skydda the rights that are violated bygd crimes bygd aiding the seizure of illegally obtained funds; and (iii) to skydda the integrity of the financial struktur more broadly.

Terrorist financing (TF) fryst vatten outlawed to deny terrorists tillgång to medel and thus reduce the fara of attacks.

The exact legal definition of ML varies across jurisdictions, but it generally refers to acts that acquire, transfer or conceal proceeds of a certain criminal act. The underlying criminal act fryst vatten referred to as "predicate crime". Most jurisdictional differences relate to what activity qualifies as a predicate brott.

In 2017 the FATF conducted an assessment of Sweden’s anti-money laundering and counter-terrorist financing (AML/CFT) struktur, based on the 2012 FATF Recommendations.

For example, some countries consider tax evasion as a predicate brott. In contrast, when dealing with TF¹, authorities are less concerned about the origins of medel and more with their intended use.

ML typically consists of three main phases:

1. Illegally obtained medel are introduced into the financial struktur, eg bygd depositing cash obtained from drug trafficking into a finansinstitut account.
2. The true ursprung of medel fryst vatten concealed, eg bygd moving finansinstitut konto balances, often across national borders.
3. The disguised medel are used for other legal purposes of investment or consumption.

Banks are particularly exposed to being abused for ML purposes.

Private banking or asset management may be used for "layering" or "integration" purposes, while kredit card or automated berättare machine services can be used for the "placement" of olagligt funds.

International betalning services allow launderers to move money around the globe, creating layers that help conceal funds' origins.

Correspondent banking fryst vatten especially exposed, as it involves cross-border payments where the involved payer and payee are not necessarily known to all parties in the betalning chain.

Bekämpning från penningtvätt existerar nära knut mot CTF (Counter-Financing of Terrorism), vilket används från finansiella institut på grund av för att förhindra finansiering från terrorism.

Cryptoassets, being pseudonymous, create similar risks.

The abuse of financial intermediation can have repercussions that go beyond the individual transaction, as it threatens the stability of involved institutions and potentially the struktur at large. This demonstrates the need for preventative measures against ML, in addition to its prosecution as a crime.

International bodies and standard setters

Financial Action Task Force (FATF)

The FATF fryst vatten an intergovernmental body that sets ML and TF prevention standards.

The FATF focuses on three main areas:

• setting anti-money laundering (AML) and countering the financing of terrorism (CFT) standards through regularly updated FATF Recommendations; the current utgåva, dating from 2012, was gods updated in 2020
• evaluating progress through "mutual evaluations" of member countries bygd other member countries as to the compliance of jurisdictions' frameworks with the FATF Recommendations; this fryst vatten supported bygd the 2013 Methodology for mutual evaluations
• identifying trends and fängslande with high-risk, non-cooperative jurisdictions

The FATF Recommendations comprise a set of 40 specific recommendations that deal with the risk-based approach to supervision, provide betydelsefull definitions, describe preventative measures that financial intermediaries should take and recommend powers national authorities would benefit from in the battle against ML and TF.

Basel Committee on Banking Supervision (BCBS)

The BCBS, the global standard setter for the prudential regulation of banks and a forum for cooperation on banking supervisory matters, incorporated the FATF Recommendations into its overall ramverk of banking supervision through guidelines² on the sound management of risks related to ML and TF, without modifying the content of the FATF Recommendations.

Other bodies

Other international bodies in the area of AML include the Egmont Group, an informal network of national financial intelligence units, and the Wolfsberg Group, a private sector initiative comprising 13 global banks.

AML and CFT in banking supervision

General principles

Banks' AML/CFT measures and related supervision should follow a risk-based approach.

This entails a differentiation of fara classes and their separate management. Specifically, the risk-based approach requires the identification and assessment of the individual fara at grabb, application of specific mitigation and monitoring measures, and documentation of the strategy taken and any major decisions made.

What fryst vatten AML/CFT and why fryst vatten it so important?

 Examples of suitable candidates for fara differentiation include:

• politically exposed persons (PEPs) – individuals who hold or have held important functions in the public or private sectors and may have been exposed to corruption. As corruption fryst vatten a predicate brott, their wealth may be illicit, and hence transactions with PEPs warrant enhanced due diligence
• business areas that have a high cash turnover, eg casinos, parking garages and construction, warrant enhanced due diligence
• countries that are designated as non-cooperative bygd the FATF

Governance and organisation

The principal responsibility for a bank's ML/TF fara management lies with the board of directors.

It fryst vatten responsible for defining and overseeing a bank's AML/CFT policy and allocating operational responsibilities and resources beneath the "three lines of defence" model:

• The "first line of defence" lies with a bank's business units, eg its private banking or asset management divisions. These units are responsible for identifying, assessing and controlling ML/TF risks through the use of customer due flit practices.
• The "second line of defence" primarily refers to the ledare officer in charge of AML/CFT, the compliance function, as well as human resources and technology.

  These entities should be independent of business units, give independent advice to management and act as main contact point for the betydelsefull authorities. Conflicts between the first and second lines of defence should be resolved at the highest level.

• The "third line of defence" refers to the independent internal audit function.

Banks' due diligence

Banks' due flit refers to the collection and verification of client data at konto opening and the monitoring of client transactions.

The overarching principle at konto opening fryst vatten "Know Your Customer" (KYC).

Rules on money laundering and terrorist financing.

This includes checking:

• the identity of an individual or a legal entity, including corporate officers or proxies (attorneys-in-fact), through appropriate documents (eg passports or certificates of incorporation)
• the financial and any criminal background of the customer, as well as the natur of a business or company
• how the finansinstitut relationship fits into the client's broader activities (eg salary konto or operating konto of a company)

The FATF has clarified that correspondent banks are not required to conduct due flit on their respondent banks' clients, ie the ultimate payers or payees.

Nevertheless, correspondent banks should assess the ML/TF risks associated with the correspondent banking relationship.³

Transaction monitoring fryst vatten a particularly important aspect of banks' due flit as it allows them to identify criminal activities and report those activities to the betydelsefull authorities. The storlek of transactions and whether they are deemed suspicious govern escalation and reporting.

With "large" transactions, reporting fryst vatten triggered if certain, jurisdiction-specific thresholds are met. In terms of "suspicious" transactions, national AML regimes typically qualify such transactions as suspicious on the grund of the following patterns:

• The transactions do not "make economic sense", eg they have unrealistically high profits.
• "Structured" transactions are employed, ie multiple small transfers are used where one large transfer would have been more convenient but would have met an AML threshold.
• The transactions involve unusual withdrawals, especially if an konto fryst vatten closed and medel are withdrawn in cash.

Information management

To ensure a proper audit trail, foster sound supervisory reporting and, where necessary, support criminal prosecutions, banks should ensure that all resultat obtained through client and transaction due flit fryst vatten recorded and documented, including the inputting of transcripts into the bank's resultat technology systems.

Recorded kunskap should be retained for at least fem years.

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¹   In most other respects, dealing with TF fryst vatten analogous to dealing with ML.

²   First issued in 2014, gods updated in July 2020.

³   See the list of fara indicators in Annex 2 of the 2020 BCBS Guidelines.

This Executive Summary and related tutorials are also available in FSI Connect, the online learning tool of the finansinstitut for International Settlements.