Methodology for assessing compliance with the FATF recommendations and the effectiveness of AML/CFT systems
This document provides the basis for undertaking assessments of technical compliance with the revised FATF Recommendations, adopted in February 2012, and for reviewing the level of effectiveness of a country’s Anti-Money Laundering / Countering the Financing of Terrorism (AML/CFT) system. It consists of three sections. This first section is an introduction, giving an overview of the assessment Methodology, its background, and how it will be used in evaluations/assessments. The second section sets out the criteria for assessing technical compliance with each of the FATF Recommendations. The third section sets out the outcomes, indicators, data and other factors used to assess the effectiveness of the implementation of the FATF Recommendations. The processes and procedures for Mutual Evaluations are set out in a separate document.