30 November, 2008
The APG will conduct separate on-site visits in November to Vietnam and to the Republic of Korea (jointly with the FATF) to evaluate those jurisdictions for compliance with the global anti-money laundering and countering the financing of terrorism standards in November 2008.
The assessment of a country’s AML/CFT system and its compliance with AML/CFT standards is conducted by experts experienced in the legal, financial sector and law enforcement areas of AML/CFT systems. These evaluations are based on the FATF's 40+9 Recommendations. To qualify as an expert, assessors must undertake an intensive training course offered by the APG (or the FATF) in the FATF methodology 2004. The entire evaluation consists of two major components: first, the on-site visit involving meetings with key governmental and private sector agencies (including banks, other financial institutions, the real estate, legal and accountancy professions); and second, the examination of the report of the visit by the full APG plenary.
Upon completion of the mutual evaluation process, which will include a detailed consideration of the report at the APG Annual Meeting in July 2009, the Vietnam and Republic of Korea evaluation reports will be published on the APG website.
Click on the "Jurisdictions" button at the top of this page for further information about the these jurisdictions.