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...

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Bibliographic Details
Main Author:	World Bank
Format:	Other Financial Accountability Study
Language:	English en_US
Published:	GIABA and the World Bank, Washington, DC 2013
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 http://hdl.handle.net/10986/12956

Description
Summary:	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.

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

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