Anti-Money Laundering and Combating the Financing of Terrorism : Mali

This assessment of the Anti-Money Laundering and Combating the Financing of Terrorism (AML-CFT) regime in Mali was conducted on the basis of the Forty Recommendations of 2003 and the Nine Special Recommendations on the financing of terrorism drawn up in 2003 and 2001, respectively, by the Financial Action Task Force (FATF), and on the AML-CFT Methodology of 2004. The assessment was based on the laws, regulations, and other materials supplied by community institutions (in particular the Central Bank of West African States (BCEAO), the Banking Commission of the West African Economic and Monetary Union (BC-WAEMU) and the Inter-ministerial Group for Action Against Money Laundering in West Africa (GIABA)) and by the national authorities of Mali, as well as the information gathered in the course of the country visit from February 4 to 14, 2008. During its visit, the assessment team met with the managers and representatives of all the relevant government agencies and the private sector. This report provides a summary of the AML/CFT measures in force in Mali as at the date of the on-site visit or immediately thereafter. It describes and analyzes those measures, and makes recommendations on how certain aspects of the system could be strengthened. It also sets out Mali's level of compliance with the FATF 40+9 Recommendations.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	GIABA and the World Bank, Washington, DC 2008-09-18
Subjects:	AGRICULTURAL ACTIVITIES, ANTI-MONEY LAUNDERING, ASSET MANAGEMENT, ASSET MANAGER, ASSET MANAGERS, AUDITORS, AUDITS, AUTOMATED TELLER MACHINES, AUTOMATIC TELLER, BALANCE SHEET, BALANCE SHEETS, BANK ACCOUNTS, BANK ASSETS, BANK BORROWERS, BANK FAILURE, BANKING LAW, BANKING NETWORK, BANKING SECTOR, BANKING SERVICES, BANKING SYSTEM, BANKS, BENEFICIARIES, BENEFICIARY, BONDS, BROKER, BROKERS, CAPACITY BUILDING, CAPITAL FLOWS, CASH DEPOSIT, CENTRAL BANK, CENTRAL SECURITIES DEPOSITORY, CHECK RECIPIENTS, CHECKS, CODE OF CONDUCT, COLLECTIVE INVESTMENTS, COMMERCIAL LAW, CONFIDENTIALITY, CONSUMER GOODS, CONVERSIONS, COOPERATIVES, CORRUPTION, CREDIT INSTITUTION, CREDITS, CRIMINAL, CROSS-BORDER TRANSACTIONS, DEBTORS, DEMOGRAPHIC, DEPOSIT, DEPOSIT ACCOUNTS, DEPOSITS, DEVALUATION, DEVELOPMENT BANK, DIVERSIFICATION, DUE DILIGENCE, DUE DILIGENCE REQUIREMENTS, ECONOMIC ACTIVITY, ECONOMIC AGENTS, ECONOMIC TRANSACTIONS, ELECTRONIC FUND, ELECTRONIC FUNDS, ELECTRONIC PAYMENTS, ELECTRONIC WALLET, EXCHANGE CONTROLS, EXPORT SECTORS, EXPORTER, FAMILIES, FINANCIAL AUTHORITIES, FINANCIAL ENGINEERING, FINANCIAL FLOWS, FINANCIAL INFORMATION, FINANCIAL INSTITUTION, FINANCIAL INSTITUTIONS, FINANCIAL INTELLIGENCE, FINANCIAL INTELLIGENCE UNIT, FINANCIAL INTERMEDIATION, FINANCIAL MANAGEMENT, FINANCIAL MARKET, FINANCIAL MARKETS, FINANCIAL RESOURCES, FINANCIAL SECTOR ASSESSMENT, FINANCIAL SERVICES, FINANCIAL SYSTEM, FINANCIAL SYSTEMS, FINANCING SOURCES, FIXED CAPITAL, FIXED CAPITAL INVESTMENT, FLOWS OF CAPITAL, FOREIGN BANKS, FOREIGN CURRENCIES, FOREIGN CURRENCY, FOREIGN EXCHANGE, FOREIGN EXCHANGE TRANSACTIONS, FORMAL FINANCIAL SECTOR, FORMAL FINANCIAL SERVICES, FRAUD, GLOBALIZATION, GOOD GOVERNANCE, GROSS DOMESTIC PRODUCT, HARMONIZATION, HOUSING, HUMAN DEVELOPMENT, HUMAN RESOURCES, IDENTITY DOCUMENT, IDENTITY DOCUMENTS, INFORMAL ECONOMY, INFORMATION PROCESSING, INSTRUMENT, INSURANCE, INSURANCE COMPANIES, INTERMEDIARY BANK, INTERNAL CONTROL, INTERNAL CONTROLS, INTERNATIONAL COOPERATION, INTERNATIONAL STANDARDS, INTERNATIONAL TRADE, INVESTIGATION, INVESTIGATIONS, INVESTMENT CAPITAL, INVESTMENT FUNDS, ISSUANCE, JURISDICTION, LAW ENFORCEMENT, LAWS, LEGAL ASSISTANCE, LEGAL FRAMEWORK, LEGAL INSTRUMENTS, LEGAL MECHANISM, LEGAL PROVISION, LEGAL PROVISIONS, LEGAL SYSTEM, LEGAL SYSTEMS, LEGISLATION, LIFE INSURANCE, LIFE INSURANCE COMPANY, LIFE INSURANCE PRODUCTS, LIFE-INSURANCE, LIMITED ACCESS, LOAN, LOCAL BANKS, LOSS OF CONFIDENCE, LOTTERIES, MARKET PLAYERS, MATURITY, MFI, MFIS, MICRO FINANCE, MICROFINANCE, MICROFINANCE INSTITUTION, MICROFINANCE INSTITUTIONS, MICROFINANCE SECTOR, MIGRATION, MINORITY SHAREHOLDERS, MONEY LAUNDERING, MONEY ORDER, MONEY ORDERS, MONEY TRANSFER, MORTGAGE, MULTINATIONAL, MUTUAL FUND, MUTUAL FUNDS, NONBANK FINANCIAL INSTITUTIONS, NONPROFIT ORGANIZATIONS, OPERATING RATIO, PAYMENT CARD, PAYMENT CARDS, PAYMENT SYSTEMS, PAYMENTS SYSTEM, PENALTIES, PENSION, PENSION FUND, PENSION FUNDS, PENSIONS, POLITICAL STABILITY, POLITICAL SYSTEM, POST OFFICE, POSTAL FINANCE, PREMIUM PAYMENTS, PROFITABILITY, PROSECUTION, PRUDENTIAL SUPERVISION, PUBLIC FINANCES, PUBLIC SAVINGS, PUBLIC SERVICES, RAPID GROWTH, REAL ESTATE, REAL PROPERTY, RECEIPT, RECEIPTS, REGULATORY ENVIRONMENT, REINSURANCE, REMITTANCES, RETIREMENT, RISK MANAGEMENT, RULE OF LAW, SAVINGS, SAVINGS ACCOUNTS, SAVINGS BANKS, SAVINGS INSTITUTIONS, SAVINGS INSTRUMENT, SAVINGS PRODUCTS, SECURITIES, SECURITIES EXCHANGE, SEIZURE, SEIZURES, SELF-REGULATION, SETTLEMENT, SMALL BUSINESS, SMALL LOANS, SMART CARDS, SOCIAL WELFARE, SOURCE OF INCOME, SPECIALIZED BANKS, STOCK EXCHANGE, SUBSIDIARIES, SUPERVISORY AUTHORITIES, SUPERVISORY AUTHORITY, TAXATION, TERRORISM, TIME DEPOSITS, TRADING, TRANSACTION, TRANSFER OF FUNDS, TRANSPARENCY, TREASURIES, TREASURY, UNION, UNIVERSAL BANKS, URBAN AREAS, WIRE TRANSFERS, WITHDRAWAL,
Online Access:	http://documents.worldbank.org/curated/en/2008/09/16404750/mali-anti-money-laundering-combating-financing-terrorism-mutual-evaluation-report https://hdl.handle.net/10986/12956
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