FATF Membership Points (ACAMS Notes)

To qualify for FATF membership, a country must :

- Strategically Important.

- Be a member of FATF style body(for example : Asia Pacific Group(APG), Eurasian Group (EAG) etc.

- Provide a letter from appropriate government official making a political commitment to implement FATF recommendations (1, 5, 10 and 13 at the minimum) within a reasonable time frame and to undergo a mutual evaluation process.

- Criminilize money laundering and terrorist financing; require financial institutions to perform KYC, EDD and report suspicious transaction to the country’s Financial Intelligence Unit (FIU).

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