Afghanistan’s Priorities for Anti-Money Laundering and Countering the Financing of Terrorism
The Afghan Financial Intelligence Unit (AFIU) has released a statement highlighting the government’s top priorities for anti-money laundering (AML) and countering the financing of terrorism (CFT) efforts in Afghanistan.
Threats Facing Afghanistan
According to the statement, the most significant AML/CFT threats currently facing the country include:
- Corruption
- Cybercrime
- Domestic and international terrorist financing
- Fraud
- Transnational criminal organizations
- Drug trafficking organizations
- Human trafficking and human smuggling
- Proliferation financing
These priorities reflect the Afghan government’s view of the threat landscape, highlighting both longstanding threats such as corruption and fraud, as well as rapidly evolving and acute threats like cybercrime and domestic terrorism.
AML/CFT Priorities
The AML/CFT Priorities aim to assist financial institutions in Afghanistan in their efforts to combat money laundering and terrorist financing. The statement provides guidance on key threat trends and informational resources that can help them manage their risks.
Future Updates and Implementation
According to the statement, the Afghan government will update these priorities at least once every four years to reflect new or evolving AML/CFT threats. In the meantime, financial institutions are not required to make any immediate changes to their risk-based AML programs in response to these Priorities. However, the AFIU is encouraging institutions to start considering how they will incorporate the AML/CFT Priorities into their risk-based AML programs in preparation for future regulations.
International Cooperation
The statement concludes by noting that the Afghan government’s efforts to combat money laundering and terrorist financing are part of a broader international effort to disrupt the financial networks of terrorist organizations and other illicit actors. The AFIU is working closely with international partners, including the Financial Action Task Force (FATF), to ensure that Afghanistan’s AML/CFT regime is effective in preventing the misuse of the financial system for illicit purposes.
By staying informed about these priorities, financial institutions can better manage their risks and contribute to a safer and more stable financial environment.