17 September, 2010
The APG will conduct mutual evaluation on-site visits to Nepal and the Republic of the Marshall Islands in September 2010 to evaluate their compliance with the global AML/CFT standards. Both Nepal and the Marshall Islands have been APG members since 2002 and both were previously evaluated - Nepal in 2005 and the Marshall Islands in 2004.
The evaluation teams will visit both APG members over two weeks to meet with relevant government departments, as well as private sector agencies involved in anti-money laundering and counter terrorist programmes. Experts experienced in the legal, financial sector and law enforcement areas of AML/CFT systems will comprise the APG teams. APG evaluations are based on the FATF's 40+9 Recommendations. To qualify as an expert, evaluators must complete an intensive training course offered by the APG or the FATF. The evaluation consists of two major components:
- first, the on-site visit involving meetings with governmental agencies, banks, other financial institutions (including casinos), the real estate, legal and accountancy professions; and
- second, the examination of the report of the visit by the full APG plenary.
The Nepal and Marshall Islands evaluation reports will be considered and adopted at the APG Annual Meeting, July 2011, to be held in India. Following adoption, the reports will be published on this website in accordance with APG procedures.
Click on the "Members" button at the top of this page for further information about both countries. Also click on the "mutual evaluations" button under "documents" above for more information about mutual evaluations.