Financial Crime World

Pacific Region to Strengthen Anti-Money Laundering and Combating the Financing of Terrorism Efforts

Pacific Regional Organisation Launches Initiative to Enhance AML/CFT Capabilities

Wellington, [Date] - The Pacific Regional Organisation (PRO) has announced a new initiative aimed at strengthening anti-money laundering (AML) and combating the financing of terrorism (CFT) efforts in the Pacific region. The Pacific AML/ CFT Technical Assistance (PACD) program aims to enhance the ability of Pacific Island countries to detect, investigate, and prosecute money laundering and terrorist financing offenses.

Key Objectives of the PACD Program

  • Increased Detection, Investigation, and Prosecution of ML/TF: Provide training and technical assistance to law enforcement agencies, judges, and prosecutors to enhance their ability to detect, investigate, and prosecute money laundering and terrorist financing offenses.
  • Strengthening AML/CFT Frameworks: Assist Pacific Island countries in strengthening their AML/CFT frameworks by providing technical assistance, capacity building, and training to financial institutions, regulatory bodies, and law enforcement agencies.
  • Enhancing Public-Private Sector Cooperation: Develop model provisions on targeted financial sanctions and related matters, as well as training for supervisors and regulators to enhance public-private sector cooperation.
  • Increasing Asset Recovery Mechanisms: Support the development of asset recovery mechanisms in Pacific Island countries by providing technical assistance and capacity building to law enforcement agencies and financial institutions.

Program Details

The PACD program has a budget of NZD 866,221 for the 2018-2019 period and is expected to benefit [Number] of Pacific Island countries. The program’s success will be monitored and evaluated through regular reporting and review.

Contact Information

  • Name: [Name]
  • Title: Director, PRO
  • Phone: [Phone Number]
  • Email: [Email Address]

Note

This article has been written in a style similar to that used by media outlets, but it is not intended to be used as an actual news story. The purpose of this exercise was to re-write the provided text in a way that makes it appear like a real media article.