Insurance Essay

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Financial Action Task Force Groupe d'action financière MONEY LAUNDERING & TERRORIST FINANCING TYPOLOGIES 2004-2005 10 June 2005 © FATF/OECD 2005 All rights reserved. No reproduction, copy, transmission or translation of this publication may be made without written permission. Applications for such permission, for all or part of this publication, should be addressed to the FATF Secretariat, OECD, 2 rue André Pascal 75775 Paris Cedex 16, France ED : 13.062005//19h30 TABLE OF CONTENTS INTRODUCTION ................................................................................................................................ 1 I. II. ALTERNATIVE REMITTANCE SYSTEMS ............................................................................................ 3 MONEY LAUNDERING VULNERABILITIES IN THE INSURANCE SECTOR........................................... 41 III PROCEEDS FROM TRAFFICKING IN HUMAN BEING AND ILLEGAL MIGRATION ................................ 65 IV MONEY LAUNDERING AND TERRORIST FINANCING TRENDS AND INDICATORS: INITIAL PERSPECTIVES ................................................................................................................... 88 INTRODUCTION Since its beginning, the Financial Action Task Force (FATF) has undertaken the study of the methods and trends associated with money laundering – or “typologies” - as a key component of its work. From the start the objective of this work has been not only to share information among law enforcement and other practitioners, but also to provide the necessary basis for informed decisions on anti-money laundering and terrorist financing policy. Typologies work thus plays a key role in the FATF standard-setting process. Additionally, the findings acquired through the annual FATF typologies exercise have served as material for informing a wider audience – regulatory authorities,

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