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Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT), and Confiscation and Forfeiture of Criminal Proceeds: A Breakdown
Overview
The following sections provide a breakdown of various indicators related to Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT), and Confiscation and Forfeiture of Criminal Proceeds.
Section 1: Supervisors
Performance Metrics for Supervisors
The performance of AML/CFT supervisors is tracked in various areas, including:
- Indicator a: Workshops and meetings conducted with other supervisors
- Indicator f: Number of MOUs signed and cooperative arrangements initiated
- Indicator g: Frequency of offsite monitoring activities, reports, and follow-up actions
- Indicator h: Number of compliance enforcement directives issued
- Indicator i: Number of cases sanctioned for non-compliance with AML/CFT obligations
- Indicator j: Number and nature of trainings attended by supervisory staff
- Indicator k: Value of investments in ICT systems for AML/CFT automation, domestic PEP requirements, and international sanctions screening
- Indicator l: Expansion of the scope of designated institutions and supervisory authority for AML/CFT
Section 2: Law Enforcement Agencies
Performance Metrics for Law Enforcement Agencies
The performance of law enforcement agencies (LEAs) is tracked in various areas, including:
- Indicator a: Workshops and meetings conducted for LEAs
- Indicator b: Number of Suspicious Transaction Reports (STRs) disseminated to LEAs
- Indicator c: Number of staff recruited and added for overall money laundering investigations
- Indicator d: Number of large complex cases turned over for prosecution
- Indicator e: Number of joint operations conducted with other LEAs on parallel financial investigations
- Indicator f: Statistics on inter-agency cooperation domestically and internationally on parallel financial investigations
- Indicator g: Value of hardware equipment and resources acquired to assist in parallel financial investigations
Section 3: Confiscation and Forfeiture
Performance Metrics for Confiscation and Forfeiture
The performance of law enforcement agencies, prosecutors, and judicial systems is tracked in various areas related to confiscating and forfeiting criminal proceeds, including:
- Indicator a: Number of staff trained on confiscation and forfeiture in line with national risk assessment results
- Indicator b: Number of cases with successful convictions in court
- Indicator c: Operationalization of asset recovery mechanisms