Background
The constitutional document of the APG is its “Terms of Reference,” adopted unanimously by its founding members in 1997. Founding members were:
- Australia
- Bangladesh
- People's Republic of China
- Hong Kong, China
- Chinese Taipei
- Japan
- New Zealand
- Philippines
- Singapore
- Sri Lanka
- Thailand
- United States of America
- Vanuatu
The Terms of Reference provide that the APG is voluntary and co-operative in nature. The APG's mandate is fixed by inter-governmental agreement until 2012 to mirror the current mandate of the Financial Action Task Force. Discussions are underway now to determine the next mandate and work plan of the APG after 2012.
The APG is required to keep itself informed of action taken or formal agreements made by relevant international and regional organisations or bodies in order to promote a consistent global response to money laundering and terrorist financing.
Membership
Membership in the APG is based on the Terms of Reference which requires:
- Recognition of the need for action to be taken to combat money laundering and terrorist financing;
- Recognition of the benefits to be obtained by sharing knowledge and experience;
- Active steps to develop, pass and implement anti-money laundering and anti-terrorist financing legislation and other measures based on accepted international standards;
- Commitment to implement APG decisions;
- Commitment to participate in the APG's mutual evaluation programme; and
- Contribution to the APG budget.
It is not a precondition for membership in the APG that anti-money laundering and/or anti-terrorist financing laws be enacted at the time of admission. However, most members will on joining have such laws in place and those that do not are required, as a membership obligation, to enact them very shortly after admission.
Copies of the Terms of Reference and the Explanatory Note on Membership are available via the Documents section of this website.