| Subject: | Out-of-session endorsement of products produced within the IEWG project on "Conclusions on Large Scale, Cross-Border ML Schemes" |
|---|---|
| Date: | Thu, 29 Oct 2020 03:30:26 -0400 |
| From: | Nedko Krumov <nedko.krumov@egmont.org> |
| To: | oc-jfiu-1@egmont.org, cip-jfiu@egmont.org, asta.piesinaitezangla@egmont.org, fiapaipai.laumea@egmont.org, sioa.sioa@egmont.org, muhammad.jiya@egmont.org, derek.baldry@egmont.org, katrina.feitt@egmont.org, mohammed.ahmed@egmont.org, mary.katoboe@egmont.org, catherine.tozaka@egmont.org, florence.dafanisi@egmont.org, raymond.ngele@egmont.org, oliver.muala@egmont.org, jimmy.vajah@egmont.org, mark.buga@egmont.org, UgandaFIA.Requests@egmont.org, nick.grady@egmont.org, jeffery.maneeke@egmont.org, hilton.gideon@egmont.org, bilen.kerga@egmont.org, sana.anien@egmont.org, robyn.hopkins@egmont.org, tshering.penjor@egmont.org, sandra.hall@egmont.org, tewodros.gerbi@egmont.org, dale.benjamin@egmont.org, wade.smith@egmont.org, FIU-Nepal-IT@egmont.org, FIU-Nepal-Analyst@egmont.org, fidlatvia@egmont.org, silvina.rivarola@egmont.org, edgar.lopez@egmont.org, bahrain-fiu@egmont.org, tasbea@egmont.org, marko.stolle@egmont.org, sp-jfiu@egmont.org, zahra.maleki@egmont.org, wilson.onea@egmont.org, 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**Letter to all HoFIU**
Dear HoFIU,
We trust you are well!
On behalf of IEWG, we would like to present to your attention for consideration and endorsement of two separate products prepared as part of the "Conclusions from Large Scale, Cross-Border Money Laundering Schemes" project, namely:
As you may remember, within Work Stream 3 of the "Conclusions from Large Scale, Cross-Border Money Laundering Schemes" project you already endorsed a Case Book, which is now available on ESW (link).
As part of the IEWG contribution to the joint Egmont / FATF effort on TBML, the IEWG project team also compiled and shared a list of TBML Risk Indicators based on the valuable input received from the member FIUs. Due to the sensitivity
of these Risk Indicators, FIUs that provided them agreed that they could be shared with a restricted audience only, while the overall Trade-Based Money Laundering 2020 Update: Trends and Developments report was intended for public sharing.
On October 22nd, the FATF plenary endorsed the joint Egmont IEWG/FATF RTMG Trade-Based Money Laundering 2020 Update: Trends and Developments report. The Trade-Based Money Laundering 2020 Update: Trends and Developments report and the list of Risk Indicators received broad support during the FATF discussions with regard to their usefulness and quality. However, it was decided by the FATF that the current list of TBML Risk Indicators will not be included as an annex to the report, since having confidential annexes in an otherwise public report was deemed as not consistent with previous FATF practice, thus possibly limiting the impact of the report for the Global Network.
Although the list of TBML Risk Indicators will not be part of the TBML report these indicators, which were collected within the "Conclusions from Large Scale, Cross-Border Money Laundering Schemes" project, can be a useful product for FIUs in their efforts to tackle TBML. It is therefore suggested that the list would be approved as a separate product within Work Stream 3 of the "Conclusions from Large Scale, Cross-Border Money Laundering Schemes" project.
In order to facilitate the approval process, please see attached the necessary MEMO and the joint Egmont IEWG/FATF RTMG Trade-Based Money Laundering 2020 Update: Trends and Developments, and the list of Trade-Based Money Laundering list of Risk Indicators.
We would be grateful to receive your approval of (1) the joint Egmont IEWG/FATF RTMG Trade-Based Money Laundering 2020 Update: Trends and Developments report; (2) of the list of Trade-Based Money Laundering Risk Indicators; and (3) their dissemination strategies by Thursday, November 12th (by sending it to nedko.krumov@egmont.org and andrey.frolov@egmont.org).
The expedited approval process is suggested due the importance of the two products and the impact they would have to the Global Network.
Thank you very much.
Kind regards,
EGS