| Subject: | CALL FOR COMMENTS – JOINT FATF/EGMONT TBML PROJECT |
|---|---|
| Date: | Mon, 17 Aug 2020 14:40:14 -0400 |
| From: | Nedko Krumov <nedko.krumov@egmont.org> |
| To: |
**Letter on behalf of IEWG**
Dear FIU colleagues,
On behalf of IEWG, we would like to inform you that the draft FATF/Egmont Trade-Based Money Laundering 2020 Update: Trends and Developments is available for comments (please see attached). As a joint FATF/Egmont report, comments will be collected in parallel from the members of the two organisations.
The draft report builds upon previous studies done within the FATF Global Network on this issue and gives an overview of the actual TBML and TBTF risks and related contextual elements. The report also provides some guidance and best practices on increasing the effectiveness and efficiency of domestic AML/CFT measures, particularly related to inter-agency cooperation and public-private partnerships. The document also contains two sets of TBML risk indicators or “red flags” and the draft Case Book, developed within the IEWG "Conclusions from Large Scale Cross-border ML Schemes" project.
Please be informed that since some sections of the draft report are based on the material provided by private sector entities, the FATF delegations will be also invited to consult with
selected trusted private sector entities, particularly those who contributed to the private sector questionnaire, on the draft report and public version of risk indicators. Nevertheless, due to the fact that the full version of TBML risk indicators and the
Case Book developed within the IEWG project are based on internal FIU information, they will not be shared beyond competent public authorities.
FIUs are invited to provide their comments in track-changes
on the draft TBML report and risk indicators to the EGS (nedko.krumov@egmont.org and
andrey.frolov@egmont.org) by
COB Friday, 11 September 2020.
Thank you very much for your cooperation.
Kind Regards,
Egmont Group Secretariat