The Asia/Pacific Group on Money Laundering (APG)
Website: http://www.apgml.org
Formation and Structure
The Asia/Pacific Group on Money Laundering (APG) is a 36 member Financial Action Task Force (FATF)-Style Regional Body (FSRB) based in Sydney, Australia with observers from six jurisdictions and a number of international and regional bodies. Founded in 1997, the APG is committed to the adoption, implementation, and enforcement of the FATF international standards in the fields of anti-money laundering and countering the financing of terrorism (AML/CFT). It operates on the basis of voluntary collaboration and consensus-based decision-making between member countries and participating organizations.
Member Jurisdictions
Afghanistan, Australia, Bangladesh, Brunei Darussalam, Cambodia, Canada, Chinese Tapei, Cook Islands, Fiji Islands, Hong Kong, India, Indonesia, Japan, South Korea, Lao People’s Democratic Republic, Macao, Malaysia, The Marshall Islands, Mongolia, Myanmar, Nauru, Nepal, New Zealand, Niue, Pakistan, Palau, The Philippines, Samoa, Singapore, Solomon Islands, Sri Lanka, Thailand, Tonga, United States of America, Vietnam, and Vanuatu.
In addition, there are 6 observer jurisdictions: Kiribati, Maldives, Papua New Guinea, Timor-Leste, France, and the United Kingdom, and a number of observer organizations, including the other FSRBs, Interpol, UNODC, the Commonwealth Secretariat, ASEAN, APEC, and the Asian Development Bank.
Counterterrorism Mandate
The APG has five key roles: 1) To assess compliance by APG member jurisdictions with the global AML/CFT standards through a mutual evaluation program; 2) To coordinate technical assistance and training with donor agencies and countries in the Asia/Pacific region in order to improve compliance by APG members with these global standards; 3) To participate in, and cooperate with, the international anti-money laundering network – primarily with the FATF and other FSRBs; 4) To conduct research and analysis into money laundering and terrorist financing trends and methods to better inform APG members of systemic and other associated risks and vulnerabilities; and 5) To contribute to the global policy development of anti-money laundering and counterterrorism financing standards by active Associate Membership status in the FATF.
Intergovernmental Counterterrorism Committee or Working Groups
While no specific counterterrorism committee exists, the APG’s annual meeting offers the opportunity to evaluate the progress of the member jurisdictions and to provide technical assistance and training. In addition, a Typologies Working Group was established to conduct “in-depth studies of particular typology topics.” The Typologies Working Group holds an annual meeting that brings together law enforcement experts and regulatory officials from the different member jurisdications and is committed to sharing practical experience from specific cases related to money laundering and the financing of terrorism. In 2005, an Implementation Issues Working Group was established to assist members in overcoming obstacles to implementation of the FATF standards.
Secretariat Resources
The APG Secretariat is comprised of 9 staff members who share responsibility for supporting the work of the APG and its working groups. In addition, the Secretariat reaches out to private sector agencies in the region to aid in the implementation of the global AML/CTF standards.
Achievements
The APG has consistently increased its membership from a starting point of 16 jurisdictions in 1997 to the current level of 36. The growth in participation has resulted in increased awareness, adoption, and implementation of FATF standards. Despite relying on voluntary action and consensus-based decision-making, the APG has accelerated the process of implementation, including through the process of mutual evaluations. As a result, while very few APG members had anti-money laundering and anti-terrorist financing legislation and other measures in place in 1997. Now, most have laws, regulations, administrative measures and other programs designed to counter these threats.
Recent/Planned Activity
In June 2006, the APG became an Associate Member of the FATF, which effectively gave the APG a role in FATF’s policy-making process. At the 2007 APG Annual Meeting it was decided that any FSRB admitted to the FATF as an Associate Member would automatically be given observer status in the APG. This move further enhanced the international cooperation between regional and international bodies.
A joint FATF/APG Mutual Evaluation of Japan is scheduled for March 2008 and the 11th APG Annual Meeting will commence in July 2008 in Bali, Indonesia.