Asia/Pacific Group on Money Laundering
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The Asia/Pacific Group on Money Laundering (APG) is the FATF-style regional body for the Asia/Pacific region. It is an autonomous international organisation founded in 1997 in Bangkok, Thailand. The APG consists of 36 member jurisdictions and a number of international and regional observers. The APG Secretariat is hosted by the Australian Government in Sydney.
Jurisdictions that join the APG commit to implement the international standards to combat money laundering and the financing of terrorism, in particular the Forty Recommendations on Money Launderingand the Nine Special Recommendations on Terrorist Financing of the Financial Action Task Force on Money Laundering (FATF). These standards are referred to as the international standards for Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT).
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[edit] The APG’s Role
The APG has a number of roles as stated in its strategic plan. Its core roles include:
- assessing APG member jurisdictions’ compliance with international AML/CFT standards through a program of mutual evaluations;
- supporting implementation of the international AML/CFT standards, including coordinating technical assistance and training with donor agencies;
- conducting research and analysis into money laundering and terrorist financing trends and methods; and
- participating in, and co-operating with, the international AML/CFT network and contributing to the global policy development of the standards through associate membership in the FATF.
[edit] APG members
Membership is open to any jurisdiction in the Asia/Pacific region which is committed to implementing and enforcing the global AML/CFT standards established by the FATF. As at July 2007 36 Asia Pacific jurisdictions were members of the APG:
- Afghanistan
- Australia
- Bangladesh
- Brunei Darussalam
- Cambodia
- Canada
- Chinese Taipei
- Cook Islands
- Fiji Islands
- Hong Kong, China
- India
- Indonesia
- Japan
- Korea, Republic of
- Lao PDR
- Macau, China
- Malaysia
- Marshall Islands
- Mongolia
- Myanmar
- Nauru
- Nepal
- New Zealand
- Niue
- Pakistan
- Palau
- Philippines
- Samoa
- Singapore
- Solomon Islands
- Sri Lanka
- Thailand
- Tonga
- United States of America
- Vanuatu
- Vietnam
Of these jurisdictions, 7 are also members of the FATF: Australia; Canada; Hong Kong, China; Japan; New Zealand, Singapore; and the United States of America.
[edit] APG Observers
APG observers include potential members of the APG and jurisdictions and organisations that cooperate with the APG to support regional efforts to implement the international standards for AML/CFT.
The following jurisdictions are observers in the APG:
- France
- Kiribati
- Maldives
- Papua New Guinea
- Timor-Leste
- United Kingdom
The following international and regional organisations are observers in the APG:
- Asia Pacific Economic Cooperation (APEC)
- Asian Development Bank (ADB)
- ADB/OECD Anti-Corruption Initiative for Asia/Pacific
- Association of South East Asian Nations (ASEAN)
- Caribbean Financial Action Task Force (CFATF)
- Commonwealth Secretariat
- Egmont Group of Financial Intelligence Units of the World (Egmont)
- Financial Action Task Force on Money Laundering (FATF)
- Grupo de Acción Financiera de Sudamérica (GAFISUD)
- International Monetary Fund (IMF)
- Interpol
- Middle East & North Africa FATF (MENAFATF)
- Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL)
- Oceania Customs Organisation (OCO)
- Offshore Group of Banking Supervisors (OGBS)
- Pacific Islands Forum Secretariat (PIFS)
- Pacific Financial Technical Assistance Centre (PFTAC)
- United Nations Office on Drugs and Crime (UNODC)
- World Bank
- World Customs Organisation (WCO)
[edit] FATF-style regional bodies
The APG is one of a number of FATF-style regional bodies which have equivalent roles to the APG. FATF-style regional bodies include:
CFATF (the Caribbean)
EAG (Central Asia)
ESAAMLG (Eastern and Southern Africa)
GAFISUD (South America)
GIABA (West Africa)
MENAFATF (Middle East and North Africa)
Moneyval (Europe)
