EU Global Facility on AML/CFT

💰 Chasing Dirty Money: Are Legal Reforms Enough? "#Moneylaundering is a high stakes game of hide and seek for criminals, and all too often they win. The stakes are billions of dollars of dirty cash. Some estimates put the global value of organised crime in the trillions and amounting to 7% of global GDP, and growing. Transnational organised crime is now involved in vast schemes of technology fraud, counterfeit drugs, environmental crime, as well as human trafficking and the narcotics trade, threatening social stability and integrity in countries around the world... " Read more https://lnkd.in/eFGiAxgM In its latest in-depth article, the #EUGlobalFacility wonders: as financial crime keeps evolving, are our legal frameworks keeping up? 🔎 How effective are legal measures? ⚖️ What gaps still need to be addressed? 🌍 What’s next for global financial integrity? David Mamuka Jean-Paul The Siracusa International Institute for Criminal Justice and Human Rights #FinancialCrime #Compliance

New partner country: #Uzbekistan starts receiving support on AML/CFT from the #EUGlobalFacility! 🇪🇺🇺🇿 We are pleased to announce the launch of our technical assistance activities with Uzbekistan following our scoping mission to Tashkent back in November 2024. Our inaugural e-workshop, which consisted of daily sessions from 10-13 February, served to introduce Uzbek institutions and regulators to the latest FATF Standards, ensuring alignment with global #AMLCFT best practices. Designed with the entire EU GF team, this cross-component initiative brought together key stakeholders from various regulatory and supervisory bodies from Uzbekistan and covers recently updated FATF Recommendations, including: 🔹 Rec 2 – National cooperation and coordination 🔹 Rec 4 – Confiscation and provisional measures 🔹 Rec 8 – Non-Profit Organisations and risk-based approaches 🔹 Rec 24 and 25 – Transparency of #beneficialownership of legal persons and legal arrangements 📆 What’s Next? This is just the beginning of a collaborative journey with our new partner country. Over the coming months, the EU Global Facility will continue working closely with national authorities to provide targeted technical support, facilitate knowledge-sharing, and foster sustainable reforms. Mamuka David Arnaud Alexandre Cecile European Commission Expertise France Tiziana Jana Kurpiša Wim #Moneylaundering Igor Mirzosharif Carsten

🎉 15,000 strong! Thank you! ¡Gracias! Merci ! شكراً لك ! Obrigado! Спасибо! 🎉 The entire team of the #EUGlobalFacility is thrilled to celebrate a major milestone—15,000 followers in our Linkedin community! 🌎🫱🏽🫲🏻 Warmest thanks for your engagement, insights, and support to the work of our experts around the globe in enhancing partner countries' fight against #moneylaundering and #terroristfinancing. From technical assistance to policy discussions, your participation strengthens the impact of the European Commission's, Expertise France and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH action worldwide. 👏🏽Thank you for being part of this journey with us ! 👏🏽 #AMLCFT #15KMilestone David Cecile Arnaud Mamuka =Palau Tiziana Alan Mathieu Andreea Camille Alexandre

NPOs in Bolivia 🇧🇴 - The EU Global Facility continues its support for Enhanced Monitoring Against Terrorist Financing OSFL en #Bolivia - La Global Facility de la UE continúa su apoyo a la mejora de la supervisión contra la financiación del terrorismo (versión española 👇🏽) This week, the #EUGlobalFacility is in Bolivia to deliver a two-day workshop aimed at strengthening the country's approach to FATF Recommendation 8 on Non-Profit Organisations (NPOs). This activity builds on our ongoing collaboration with Bolivian authorities and #civilsociety to ensure a risk-based and proportionate framework for NPOs while safeguarding the sector's essential work. 🫱🏽🫲🏻 The workshop brings together representatives from state institutions and NPOs to review recent updates to FATF standards, national #riskassessment findings, and best practices in monitoring and engagement. Discussions will focus on striking a balance between mitigating #financialcrime risks and preserving civic space, a challenge faced globally. EU Global Facility experts are leading the sessions, offering comparative experiences and practical recommendations on: ✅ The evolving FATF standards on NPOs and their implications ✅ The role of NPOs in preventing terrorist financing abuse ✅ Effective monitoring approaches based on risk ✅ International best practices in government-NPO cooperation ----- Esta semana, el #EUGlobalFacility está en Bolivia para impartir un taller de dos días destinado a reforzar el enfoque del país con respecto a la Recomendación 8 del GAFI sobre organizaciones sin ánimo de lucro (OSFL). Esta actividad se basa en nuestra colaboración continua con las autoridades bolivianas y la sociedad civil para garantizar un marco proporcional y basado en el riesgo para las organizaciones sin ánimo de lucro, al tiempo que se salvaguarda el trabajo esencial del sector. 🫱🏽🫲🏻 El taller reúne a representantes de instituciones estatales y OSFL para revisar las recientes actualizaciones de las normas del GAFI, los resultados de la evaluación de riesgos nacionales y las mejores prácticas en materia de supervisión y participación. Los debates se centrarán en lograr un equilibrio entre la mitigación de los riesgos de la delincuencia financiera y la preservación del espacio cívico, un desafío al que se enfrenta todo el mundo. Los expertos de la EU Global Facility dirigen las sesiones, ofreciendo experiencias comparativas y recomendaciones prácticas sobre: ✅ La evolución de las normas del GAFI sobre las OSFL y sus implicaciones ✅ El papel de las OSFL en la prevención del abuso de la financiación del terrorismo ✅ Enfoques de supervisión eficaces basados en el riesgo ✅ Mejores prácticas internacionales en la cooperación entre gobiernos y OSFL Mamuka David Cecile Tiziana European Commission Expertise France Gabriela Ben Aarti Carsten

Supporting Trinidad & Tobago 🇹🇹 with their #RiskAssessment on Virtual Assets 🔐 Yesterday, the EU Global Facility held a strategic meeting with the National Coordination Team of #TrinidadandTobago, responsible for drafting the national Risk Assessment on Virtual Assets. After reviewing the work done so far by the national team, our experts outlined the next steps needed in this process. What are the next steps? ✅ Collecting relevant data on #virtualassets and associated financial flows ✅ Conducting in-depth analysis to assess potential #MoneyLaundering and #TerroristFinancing risks ✅ Consolidating findings into the RA to support risk-based policymaking 🗣️ "Under FATF Standards, countries are required to "identify, assess, and understand" their money laundering risks and ensure that mitigation measures are effectively implemented. This is particularly crucial for #cryptocurrency and other virtual assets, ensuring that new technologies serve as development tools rather than safe havens for illicit financial activities," explained #EUGlobalFacility Key Expert on Regulation/FIUs Arnaud STIEN. 💡 A solid risk assessment is a fundamental step in ensuring financial integrity and security. To this end, the EU Global Facility started its engagement with Trinidad & Tobago on this topic began last year, with a first training in March 2024, followed by another in July. David Vyana European Commission Expertise France Cecile Nadira Kevon Rosalind Kristal Meilan

New chapter opens in GAFILAT-EU Global Facility collaboration on Statistics 📊 Se abre un nuevo capítulo en la colaboración entre el GAFILAT y la Global Facility de la UE sobre estadísticas (versión española 👇🏽) Monday 27 January marked the kick off of the project “Strengthening Statistical Processes and Tools to Demonstrate Effectiveness: 5th Round of GAFILAT Mutual Evaluations” – a new joint initiative between the #EUGlobalFacility and GAFILAT for 2025. Building on a longstanding and successful partnership, this activity is truly a collaborative step forward in preparing for the 5th Round of Mutual Evaluations, where statistics play a key role in measuring effectiveness. With the support of the EU Global Facility, this joint work will: ✅ Strengthen the #AMLCFT framework of GAFILAT countries in compliance with FATF Recommendation 33 ✅ Empower countries to transform raw data into actionable insights for reliable measurement of system effectiveness, aligned with @FATF's Immediate Outcomes. What do we expect to achieve? 📘 A Good Practice Manual on AML/CFT #statistics, tailored to the realities of GAFILAT countries and based on FATF's 2015 guide 📊 Templates for statistical tables and charts showcasing key elements required to demonstrate effectiveness in mutual evaluations 🎓 Training for the 18 GAFILAT member countries on implementing these tools and processes to ensure consistent, up-to-date, and high-quality statistical reporting ---- El lunes se dio el pistoletazo de salida al proyecto «Fortalecimiento de los procesos y herramientas estadísticos para demostrar la eficacia: Quinta ronda de evaluaciones mutuas del GAFILAT», una nueva iniciativa conjunta para 2025. Basándose en una asociación duradera y exitosa, esta actividad es realmente un paso adelante en la colaboración para la preparación de la 5.ª ronda de evaluaciones mutuas, donde las estadísticas desempeñan un papel clave en la medición de la eficacia. Con el apoyo de la Global Facility, este trabajo conjunto: ✅ Fortalecerá el marco ALA/CFT de los países del GAFILAT de conformidad con la Recomendación 33 del GAFI ✅ Capacitar a los países para transformar los datos brutos en conocimientos prácticos para medir de forma fiable la eficacia del sistema, en consonancia con los resultados inmediatos del GAFI ¿Qué esperamos conseguir? 📘 Un manual de buenas prácticas sobre estadísticas ALA/CFT, adaptado a las realidades de los países del GAFILAT y basado en la guía del GAFI de 2015 📊 Plantillas para tablas y gráficos estadísticos que muestren los elementos clave necesarios para demostrar la eficacia en las evaluaciones mutuas 🎓 Formación para los 18 países miembros del GAFILAT sobre la implementación de estas herramientas y procesos para garantizar informes estadísticos coherentes, actualizados y de alta calidad. Victoria David European Commission Cecile Esteban Gustavo Luna Expertise France Juan Guillermo Rosario

🇪🇺 🤝 EU projects Strengthening Partnerships to Tackle Illicit Financial Flows The EU Global Facility was pleased to host its partners from the Global Programme on Combatting Illicit Financial Flows (GIZ) today in Brussels, as our two projects came together to reinforce our shared commitment to combating illicit financial flows (IFF) and advancing global financial integrity. “We launched this annual gathering between our sister projects a couple years back, to ensure that we would work hand in hand in an efficient manner. This means without duplicating efforts and by promoting synergies amongst and between our teams,” explained #EUGlobalFacility Team Leader David Hotte. Following a presentation of the EU Global Facility’s work in providing technical assistance to partner countries on #AMLCFT measures, the GIZ representatives highlighted their focus on partnership and innovation through their holistic approach, focusing on prevention, financial investigation and #assetrecovery. The discussions also explored opportunities for enhanced cooperation between the EU GF and the GIZ GP IFF programme.   💡 Did you Know ? The EU Global Facility on AML/CFT is implemented by Expertise France in cooperation with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH since 2017. Matthieu Mamuka Tiziana Olga Jana Andreea European Commission Cecile

Regulation and Policy in #AMLCFT: Strategic Move in 🇫🇷 by the #EUGlobalFacility    This week, the EU Global Facility brought together key policy actors from across the global #AMLCFT landscape in a series of meetings in Paris, #France organised with our implementing agency Expertise France.   Led by our Key Expert on Regulation/FIU Arnaud STIEN and EU GF Team Leader David Hotte , the 3-day high-level meetings were an important stepping stone as the EUGF’s Regulation and Financial Intelligence Unit Component is increasingly positioned not only to deliver technical expertise but also to serve as a vital link between operational and policy-making actors.    1️⃣ On Monday, we started with a meeting with the International Banking and Finance Institute (IBFI) & Banque de France. A discussion on the potential for joint activities in #banking supervision, with a focus on how the EU Global Facility can strengthen the role of #centralbanks as both supervisory authorities and obligated entities under the AML/CFT framework.   2️⃣ Meeting with the OECD - OCDE’s Development Cooperation Directorate & Development Assistance Committee on Tuesday 21 January. There, our experts explored points of convergence between the EUGF’s technical assistance initiatives and the OECD’s policy recommendations on de-risking. "Our discussions really highlighted the importance of activities like Correspondent Banking and how our work helps amplify global policy objectives to mitigate de-risking practices," noted Arnaud Stien. "Technical assistance actions implemented by the EUGF can be used as a vector with civil society to implement #derisking recommendations and best practices published by international players like the OECD." Learn more about our work on CoBA: https://buff.ly/3Q4nTpP) 3️⃣ Wednesday witnessed a coordination meeting with the Direction générale du Trésor & Ministère des Affaires étrangères français: A strategic meeting with France's key AML/CFT stakeholders to discuss the latest developments in regulatory frameworks and ensure that our strategy is aligned with ongoing policy shifts. Also, our team met with the Executive Vice President, Europe & International, at the Conseil supérieur du Notariat to coordinate on how to further strengthen AML/CFT #supervision within the notarial sector, which plays an increasingly significant role in global #financialintegrity.      A lot of meetings ... What outputs ?  "Having these discussions is not just to tick a box. They truly underscore the growing dimension of the EU Global Facility's work, as we help our partner countries to bridge the gap between regulatory authorities, international policy-makers, and financial institutions," stressed Team Leader David Hotte.    European Commission Alan Cecile Matthieu #moneylaundering #compliance   

#BeneficialOwnership Register Information System (BORITS): Milestone in our support to #Jordan 🇯🇴 AML/CFT efforts 3️⃣ years after the start of the #EUGlobalFacility's technical assistance to Jordan, here we are ! The official launch of the Beneficial Ownership BORITS took place this week. A crucial milestone to support Jordan in its efforts to establish a robust and sustainable BO framework, BORITS is expected to provide a comprehensive, fully digital solution that will be seamlessly integrated into the Kingdom's BO infrastructure and aligned with the relevant national registries. BORITS will ensure machine-readable data that adhere to international standards and best practices in BO operations. Concretely, what is BORITS for ? 📑 Effective Filing for Entities: Legal entities and corporations operating in Jordan will have an efficient and accessible tool to manage and file their BO information. 🛜 Competent authorities and obligated entities will be able to easily connect to the system for use in their supervisory roles and to fulfill their Customer Due Diligence (CDD) obligations. 🔎 The system will provide the Companies Control Department with the tools needed to perform comprehensive analysis and develop strategies for ensuring that BO data is accurate and up-to-date. Features like discrepancy reporting and risk-based supervision will be embedded to support these efforts, ensuring effective management and oversight of the BO register. So ... what happened during this week's kick-off meeting? Following the presentation of the initial project plan and expectations, we held discussions on project governance and mock-ups of the platform. Dedicated sessions focused on specific business processes, such as business process management, authentication and authorisation for filing and access, and API integration requirements. This week also marked the first convening of the BORITS Steering Committee, co-chaired by the Anti-Money Laundering Unit, the Ministry of Digital Economy and Entrepreneurship, and the Companies Control Department under the Ministry of Industry, Trade, and Supplies. This collaboration will pave the way for the successful development and implementation of BORITS, aiming for completion in 2️⃣0️⃣2️⃣5️⃣. 🫱🏽🫲🏻 BORITS launch was made possible thanks to the strong partnership on #AMLCFT started between the EU GF and Jordan back in 2021. It also follows months of work by the EU Global Facility’s experts to identify business and technical requirements, prepare procurement documentation, and select IT partners with a global and local reach. 💡 To learn more about our work with Jordan 👉🏼 https://buff.ly/42qPWqR #Transparency #Compliance #moneylaundering Alexandre David Vladimir European Commission Cecile Samya Wael Ala Sasha Petar Nextsense Michael Shadi ProgressSoft Corporation Middleeast and North Africa Financial Action Task Force (MENAFATF)

🔎💶 Navigating the EU’s New AML Landscape: A Key Conversation on #BeneficialOwnership For those interested in the topic of BO, this update is for you: last month, the EU Global Facility was invited to take part in a pivotal webinar on the EU’s evolving regulatory framework for #AMLCTF. 💡 Two years after the Court of Justice of the European Union’s (ECJ) 🇪🇺 ruling on the revocation of public access to National Beneficial Ownership Registers, the landscape has dramatically shifted. The ruling has not only standardised the EU’s definition of beneficial ownership, but also reshaped access controls, enforcement mechanisms, and verification processes. As a result, Moody's organised an online discussion to highlight: 🔎 Key insights on what led to the ECJ’s ruling and its far-reaching impact on AML/CTF practices. 🔎 The changing definitions of beneficial ownership, and the challenges of ownership and control. 🔎 The importance of robust entity verification in customer due diligence to prevent illicit activity. Conversations like this one drive forward the critical partnerships and insights needed to build stronger, more transparent financial systems across the EU and beyond. This is part of the #EUGlobalFacility's vision to support all stakeholders in navigating complex regulatory landscapes. 📺 For those interested to watch the webinar: https://lnkd.in/eDVuJr4c Photos ©️ Moody's David European Commission Cecile Alexandre Expertise France Ljubinka Hemal Ted Dr Christine