EU AML/CFT Global Facility
The project aims to support the third countries in their efforts to prevent money laundering and cut off access to funding for individual terrorists and terrorist organisations.
The EU Global Facility on AML/CFT
The European Commission therefore set up the Global Facility on Anti-Money Laundering and Countering the Financing of Terrorism (GF-AML/CFT), a technical assistance project to support partner countries worldwide to strengthen their AML/CFT regimes. Identified as the Commission’s instrument to support countries with strategic AML/CFT deficiencies, the facility offers various forms of technical assistance tailored to the partner countries’ needs, on a demand-driven basis and in response to emerging threats.
Methodology
The project is centred around three separate
yet intertwined pillars, covering all stages
and actors of the financial investigation and
penal chain.
Strengthen AML/CFT
Build AML/CFT
Increase cooperation
Strengthen AML/CFT
Strengthen AML/CFT legislative, regulatory and policy frameworks: technical assistance such as evaluating, developing
and strengthening frameworks in-line with international standards; integration of specific elements (such as beneficial ownership) into the legal framework; ensuring that laws and regulations contain specific provisions concerning civil society and non-profit organisations.
Build AML/CFT
Build AML/CFT analytical and institutional capacity: capacity building to AML/CFT actors in partner countries including regulatory authorities, financial intelligence units, law enforcement agencies, the judiciary, specialised asset recovery bodies, civil society and media.
Increase cooperation
Increase national, regional and international cooperation and networks on AML/CFT issues: greater cooperation through international standard setting and development of bilateral agreements; promoting collaboration with/between regional or international groups and networks; dialogue facilitation between civil society, private sector and public entities.
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