وحدة مكافحة غسل الأموال وتمويل الإرهاب
جمهورية مصر العربية
The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions. The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. The FATF is therefore a “policy-making body” which works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.
The FATF has developed a series of Recommendations that are recognised as the international standard for combating of money laundering and the financing of terrorism and proliferation of weapons of mass destruction. They form the basis for a co-ordinated response to these threats to the integrity of the financial system and help ensure a level playing field. First issued in 1990, the FATF Recommendations were revised in 1996, 2001, 2003 and most recently in 2012 to ensure that they remain up to date and relevant, and they are intended to be of universal application.
The FATF monitors the progress of its members in implementing necessary measures, reviews money laundering and terrorist financing techniques and counter-measures, and promotes the adoption and implementation of appropriate measures globally. In collaboration with other international stakeholders, the FATF works to identify national-level vulnerabilities with the aim of protecting the international financial system from misuse.
The FATF's decision making body, the FATF Plenary, meets three times per year.
Important International Bodies in the Field of Combating Money Laundering and Terrorism Financing
The Financial Action Task Force (FATF)
at an inaugural Ministerial Meeting held in Manama, Bahrain on the 30th of November 2004, the Governments of 14 countries decided to establish MENAFATF as a FATF Style Regional Body (FSRB).
It was agreed that the headquarter of this body will be in the Kingdom of Bahrain.
The MENAFATF is voluntary and co-operative in nature and independent from any other international body or organisation; it was established by agreement between the governments of its members and is not based on an international treaty. It sets its own work, regulations, rules and procedures and co-operates with other international bodies, notably the FATF, to achieve its objectives.
Middle East and North Africa FATF
Recognizing the importance of international cooperation in the fight against money laundering and financing of terrorism, a group of Financial Intelligence Units (FIUs) met at the Egmont Arenberg Palace in Brussels, Belgium, and decided to establish an informal network of FIUs for the stimulation of international co-operation. Now known as the Egmont Group of Financial Intelligence Units, Egmont Group FIUs meet regularly to find ways to promote the development of FIUs and to cooperate, especially in the areas of information exchange, training and the sharing of expertise.
The Egmont Group has evolved over the years and is currently (2015) comprised of 151 member FIUs. The 2012 FATF Recommendations expect that FIUs apply for membership with the Egmont Group, therefore, the Egmont network of FIUs is expected to grow even further in the coming years.
MENAFATF Member countries endeavour towards achieving the following objectives:
To adopt and implement the FATF 40 Recommendations on combating money laundering and financing of terrorism and proliferation;
To implement the relevant UN treaties and agreements and United Nations Security Council Resolutions;
To co-operate among each other to raise compliance with these standards within the MENA Region and to cooperate with other international and regional organizations, institutions and agencies to improve compliance worldwide;
To work jointly to identify issues of regional nature related to money laundering and terrorist financing, and to share relevant experiences and to develop solutions for dealing with them;
To take measures throughout the region to effectively combat money laundering and terrorist financing in a way that does not contradict with the cultural values, constitutional frameworks and legal systems in the member countries.
This website was designed by the Unit’s Research and Strategic Analysis Dept.
Arab Republic of Egypt
Egyptian Money Laundering and Terrorist Financing Combating Unit
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