Supporting Member Countries' Anti-Money Laundering Efforts: IDB Initiatives
The Inter-American Development Bank (IDB) offers support to member countries in their anti-money laundering (AML) efforts through a demand-driven approach, policy dialogue, loan operations, and technical assistance. The focus is on strategic engagement areas, incremental approaches, and collaboration with other key donors and institutions like the FATF, CFATF, and GAFILAT. The Bank's Technical Assistance Program aims to strengthen the integrity of financial systems by preventing money laundering and terrorist financing, conducting national risk assessments, implementing legal reforms, strengthening institutions, and disseminating research and knowledge. Additionally, knowledge products focus on identifying politically exposed persons, assessing de-risking impacts, regulating beneficial ownership, and using corruption indicators in sovereign ratings.
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The IDB Support to our Member Countries AML efforts Policy Dialogue Loan Operations Technical Assistance: o Demand-driven approach o Political will Observers to the FATF, CFATF and GAFILAT Knowledge products and Communication
How we do it 1. Focus on client s status 2. Strategic selection of areas of engagement 3. Incremental approach 4. Combine TA with other means of cooperation and assistance 5. Complement efforts with other key donors 6. Interinstitutional collaboration (OAS, WB) Internally: sharing results (IDB-IDB Invest projects)
The Banks TA Program Strengthening the Integrity of Financial Systems: Improving the Capacity to Prevent Money Laundering and Terrorist Financing (Regional and Per Country Technical Cooperation). General Objective: To support member countries in their efforts to prevent money laundering and terrorist financing, in compliance with the Financial Action Task Force Standards. Specific Objectives: (i) National Risk Assessments (ii) Legal and Regulatory reforms (iii) Institutional Strengthening and (iv) Research and Knowledge Dissemination.
Knowledge Products and Dissemination Identification and Exchange of Information on Politically Exposed Persons in Central American Countries. Assessing the Impact of the De-risking on Remittances and Trade Finance in Belize. Regulation of Beneficial Ownership in Latin America and the Caribbean. The Use of Corruption Indicators in Sovereign Ratings.
