Financial Crime World

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Anti-Money Laundering, Combating the Financing of Terrorism, and Related Financial Regulations

Organizations Involved

The following organizations play a crucial role in combating money laundering, terrorism financing, and related financial regulations:

  • Task Force on Anti-Money Laundering in Central Africa (GABAC)
  • Central African Economic and Monetary Community (CEMAC)
  • Financial Action Task Force (FATF)
  • International Monetary Fund (IMF)
  • International Criminal Police Organization (INTERPOL)
  • Organization for Economic Cooperation and Development (OECD)
  • Organization for the Harmonization of Business Law in Africa (OHADA)

Financial Institutions

The following types of financial institutions are subject to anti-money laundering regulations:

  • Financial Institution (FI)
    • Microfinance Institution (MFI)
    • Non-Banking Financial Institution (NBFI)
    • Virtual Asset Service Provider (VASP)
    • Funds or Securities Transfer Service Provider (FSTSP)

Regulatory Bodies

The following regulatory bodies are responsible for enforcing anti-money laundering regulations:

  • Directorate General of Counter-Intelligence and Military Security (DGCISM)
  • Directorate General of Taxation (DGI)
  • Directorate General of Documentation and Immigration (DGDI)
  • National Directorate (DN) - BEAC
  • Gabon Federation of Insurance Companies (FEGASA)

Legislative and Regulatory Frameworks

The following legislative and regulatory frameworks are relevant to anti-money laundering regulations:

  • Penal Code (CP)
    • Central African Monetary Union (UMA C)
    • West African Monetary Union (WAMU)
    • One-Person Limited Liability Company (OPLLC)
    • One-Person Simplified Joint Stock Company (SASU)

Terminology and Concepts

The following terms and concepts are essential to understanding anti-money laundering regulations:

  • Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT)
  • Money Laundering (ML)
  • Terrorist Financing (TF)
  • Know Your Customer (KYC)
  • Politically Exposed Person (PEP)
  • Suspicious Transaction Report (STR)

Reports and Evaluations

The following reports and evaluations are used to assess anti-money laundering compliance:

  • Mutual Evaluation Report (MER)
    • National Risk Assessment (NRA)
    • United Nations Security Council Resolution (UNSCR)