Singapore has a strong legal and institutional framework to fight money laundering (ML) and terrorist financing (TF) but understanding of ML/TF risks varies among financial institutions and designated non-financial businesses and professions.
The new FATF Training and Research Institute (TREIN) will increase the capacity of all countries to implement sound measures to protect the integrity of the financial system and ensure that FATF and its regional bodies take a consistent approach to measuring the effectiveness of countries' efforts.
Canada has a strong anti-money laundering and combating the financing of terrorism regime which achieves good results in some areas but requires further improvements to be fully effective.
Austria has an overall sound legal and institutional anti-money laundering and counter-terrorist financing framework, but improvements are still needed. Austria also needs to improve its effectiveness in applying certain measures.
Combatting terrorist financing is the top priority for the FATF, the intergovernmental body responsible for understanding terrorist financing risks, developing global standards and evaluating countries' compliance.
FATF's focus on terrorist financing.
The FATF Recommendations, the international anti-money laundering and combating the financing of terrorism and proliferation (AML/CFT) standards, and the FATF Methodology to assess the effectiveness of AML/CFT systems.
What is an effective system to combat money laundering and terrorist financing?
The FATF has identified jurisdictions with strategic deficiencies in their frameworks to combat money laundering and the financing of terrorism and proliferation.
Jurisdictions for which an FATF call for action applies
