Working Group on Evaluations and Compliance
E92381
The Working Group on Evaluations and Compliance is a specialized body within the Financial Action Task Force responsible for assessing countries’ adherence to global anti–money laundering and counter-terrorist financing standards.
Aliases (1)
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
FATF working group
→
intergovernmental body component → specialized body → |
| activity |
conducts follow-up assessments
→
conducts mutual evaluations of jurisdictions → coordinates with other FATF working groups on policy and implementation issues → develops guidance on evaluation procedures → reviews progress reports from jurisdictions → |
| basedOn |
peer review process
→
|
| composition |
delegations from FATF member jurisdictions
→
observers from relevant international organizations → |
| countryAssessed |
FATF member jurisdictions
→
FATF-style regional body member jurisdictions → |
| field |
anti-money laundering
→
counter-terrorist financing → countering proliferation financing → financial crime compliance → |
| focusesOn |
effectiveness of AML/CFT systems
→
international cooperation in AML/CFT → risk-based approach implementation → sanctions implementation related to terrorism and proliferation → technical compliance with FATF Recommendations → |
| governingBody |
FATF Plenary
→
|
| hasRole |
advises on listing and delisting of jurisdictions with strategic deficiencies
→
assesses countries’ adherence to FATF standards → coordinates with FATF-style regional bodies on evaluations → develops and refines FATF assessment methodology → ensures consistency and quality of mutual evaluations → identifies significant strategic AML/CFT deficiencies in jurisdictions → monitors implementation of FATF recommendations → monitors jurisdictions’ progress in addressing AML/CFT deficiencies → oversees mutual evaluation processes → prepares draft mutual evaluation reports → reports to the FATF Plenary → reviews follow-up and compliance with FATF recommendations → supports FATF’s International Cooperation Review Process → supports global implementation of FATF standards → |
| objective |
enhance global AML/CFT compliance
→
ensure a robust and credible mutual evaluation process → identify and address weaknesses in national AML/CFT frameworks → promote effective implementation of FATF standards → |
| partOf |
Financial Action Task Force
→
|
| sectorCovered |
designated non-financial businesses and professions
→
financial sector → |
| shortName |
WGE
→
|
| usesStandard |
FATF Methodology for Assessing Technical Compliance and Effectiveness
→
FATF Recommendations → |
Referenced by (2)
| Subject (surface form when different) | Predicate |
|---|---|
|
Policy Development Group
("FATF Evaluation and Compliance Group")
→
|
collaboratesWith |
|
Financial Action Task Force
→
|
hasWorkingGroup |