Maldives: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism

International Monetary Fund

No 2012/001, IMF Staff Country Reports from International Monetary Fund

Abstract: The Maldives has taken steps to lay down the foundations of an antimoney laundering and counterterrorist financing (AML/CFT) framework. This report summarizes the AML/CFT measures that were in place in the Maldives at the time of the onsite visit (October 17–28, 2010) and shortly thereafter. The report describes and analyzes these measures and offers recommendations on how to strengthen certain aspects of the AML/CFT system. It also assesses the Maldives’ level of compliance with the Recommendations of the Financial Action Task Force (FATF).

Keywords: ISCR; CR; criminal activity; drug trafficking; terrorist financing; AML regulation; cyber crime; due diligence; criminal offense; CFT requirement; banking sector; penal code; credit card; Anti-money laundering and combating the financing of terrorism (AML/CFT); Money laundering; Terrorism financing; Legal support in revenue administration; South Asia; Asia and Pacific (search for similar items in EconPapers)
Pages: 240
Date: 2012-01-04
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