Malawi - Mutual Evaluation Report : Anti-Money Laundering and Combating the Financing of Terrorism
Malawi is a land-locked country. It is bordered by Zambia to the north-west, Tanzania to the north and Mozambique, which surrounds it on the east, south and west. This Report provides a detailed assessment of the Anti-Money Laundering AML/Combating...
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Format: | Financial Sector Assessment Program (FSAP) |
Language: | English |
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Washington, DC
2012
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Online Access: | http://documents.worldbank.org/curated/en/2008/12/16270697/malawi-mutual-evaluation-report-anti-money-laundering-combating-financing-terrorism http://hdl.handle.net/10986/7966 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
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English |
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ABUSE ACCOUNTING ADMINISTRATION OF JUSTICE ANTI-CORRUPTION ANTI-MONEY LAUNDERING ANTICORRUPTION ANTICORRUPTION BUREAU ASSET MANAGERS ASSETS BANK ACCOUNTS BANK CUSTOMERS BANK SUPERVISION BANKING MARKET BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKS BEARER CERTIFICATES BEARER INSTRUMENT BENEFICIARIES BRIBERY BROKERS BUSINESSMAN CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CASH TRANSACTION CDS CERTIFICATES OF DEPOSIT COLLECTIVE INVESTMENT COMMERCIAL BANK COMMERCIAL BANKERS COMMERCIAL BANKS COMMERCIAL LAWS COMMERCIAL TRANSACTIONS COMMON LAW COMPLAINTS CONFIDENCE CONFISCATION ORDER CONSTITUTIONAL COURT CONSUMER CREDIT COOPERATIVES CORRUPT CORRUPT PRACTICES CORRUPTION OFFENCE CORRUPTION PREVENTION COURT COURTS CREDIT CARDS CRIME CRIMES CRIMINAL CRIMINAL LAW CRIMINAL LAWS CRIMINALIZATION CURRENCY CUSTODY CUSTOMARY LAW DEBIT CARDS DEBT DEBT MANAGEMENT DEMOCRACY DEPOSITS DERIVATIVES DEVELOPMENT FINANCE DEVELOPMENT FINANCE INSTITUTIONS DISCRETION DIVERSIFICATION DRUG TRAFFICKING DUE DILIGENCE ECONOMIC GROWTH EMERGENCY SITUATIONS EMPLOYERS ENFORCEMENT AGENCIES ENFORCEMENT AGENCY ETHICS EXCHANGE CONTROL EXPENDITURES EXPLOITATION EXTORTION EXTRADITION FACTORING FINANCIAL ASSETS FINANCIAL CRIME FINANCIAL CRIMES FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INTELLIGENCE FINANCIAL INTELLIGENCE UNIT FINANCIAL LEASING FINANCIAL RESOURCES FINANCIAL SECTOR ASSESSMENT FINANCIAL SERVICES FINANCIAL STATEMENTS FINANCIAL SYSTEM FOREIGN BANK FOREIGN BANKS FOREIGN EXCHANGE FRAUD FUTURES GOOD GOVERNANCE GROSS DOMESTIC PRODUCT HOME HOUSES HUMAN RESOURCES IMPRISONMENT INFLATION INSIDER TRADING INSURANCE PREMIUMS INTANGIBLE INTEREST RATE INTEREST RATES INTERNAL CONTROLS INTERNATIONAL STANDARD INTERNATIONAL STANDARDS INVESTIGATION INVESTIGATIONS INVESTING ISSUANCE JUDGES JUDICIAL PROCESS JUDICIAL SERVICE JUDICIARY JUSTICE JUSTICE SYSTEM KIDNAPPING LAW ENFORCEMENT LAWS LAWYER LAWYERS LEGAL EDUCATION LEGAL ENTITY LEGAL FRAMEWORK LEGAL SYSTEM LEGISLATION LEGISLATIVE FRAMEWORK LEVEL OF COMMITMENT LIABILITY LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUIDATION MANDATES MARKET CAPITALIZATION MARKET SIZE MICRO-FINANCE MICRO-FINANCE INSTITUTIONS MICROFINANCE MINISTER MINISTERS MONETARY FUND MONEY LAUNDERING MONEY MARKET MONEY MARKET INSTRUMENTS MONEY ORDERS MORTGAGE MORTGAGE BANKS MORTGAGE CREDIT MUTUAL FUNDS MUTUAL LEGAL ASSISTANCE NATIONAL SECURITY NEW ENTRANTS NONPROFIT ORGANIZATIONS NOTARIES OFFENCES OFFENDERS PENAL CODE PENALTIES PENALTY PENSION PENSION FUNDS PENSIONS POLICE PORTFOLIO PORTFOLIO MANAGEMENT PRIVATE BANKING PROSECUTION PROSECUTIONS PROSECUTOR PROSECUTORS PUBLIC EDUCATION PUBLIC EXPENDITURES PUBLIC OFFICIAL PUBLIC OFFICIALS REAL ESTATE RECEIPT REGISTRATION REQUIREMENT REGULATORY FRAMEWORK REMEDY REMITTANCE RESERVE RESERVE BANK RESTRAINT ORDER RESTRAINT ORDERS RETURN ROBBERY SANCTIONS SAVINGS SAVINGS BANK SAVINGS INSTITUTIONS SECURITIES SECURITIES MARKET SEIZURE SHAREHOLDERS SOLICITATION STATE GOVERNMENT STOCK EXCHANGE SUBSIDIARY SUFFRAGE SUPERVISION OF BANKS SUPERVISORY AUTHORITY TAX TAXATION TERRORISM THEFT TRADING TRANSACTION TRANSPARENCY TRANSPORT TREASURY TRIAL TRUST DEED TRUSTEE UNDERWRITERS UNIONS WARRANTS WILL WIRE TRANSFER |
spellingShingle |
ABUSE ACCOUNTING ADMINISTRATION OF JUSTICE ANTI-CORRUPTION ANTI-MONEY LAUNDERING ANTICORRUPTION ANTICORRUPTION BUREAU ASSET MANAGERS ASSETS BANK ACCOUNTS BANK CUSTOMERS BANK SUPERVISION BANKING MARKET BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKS BEARER CERTIFICATES BEARER INSTRUMENT BENEFICIARIES BRIBERY BROKERS BUSINESSMAN CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CASH TRANSACTION CDS CERTIFICATES OF DEPOSIT COLLECTIVE INVESTMENT COMMERCIAL BANK COMMERCIAL BANKERS COMMERCIAL BANKS COMMERCIAL LAWS COMMERCIAL TRANSACTIONS COMMON LAW COMPLAINTS CONFIDENCE CONFISCATION ORDER CONSTITUTIONAL COURT CONSUMER CREDIT COOPERATIVES CORRUPT CORRUPT PRACTICES CORRUPTION OFFENCE CORRUPTION PREVENTION COURT COURTS CREDIT CARDS CRIME CRIMES CRIMINAL CRIMINAL LAW CRIMINAL LAWS CRIMINALIZATION CURRENCY CUSTODY CUSTOMARY LAW DEBIT CARDS DEBT DEBT MANAGEMENT DEMOCRACY DEPOSITS DERIVATIVES DEVELOPMENT FINANCE DEVELOPMENT FINANCE INSTITUTIONS DISCRETION DIVERSIFICATION DRUG TRAFFICKING DUE DILIGENCE ECONOMIC GROWTH EMERGENCY SITUATIONS EMPLOYERS ENFORCEMENT AGENCIES ENFORCEMENT AGENCY ETHICS EXCHANGE CONTROL EXPENDITURES EXPLOITATION EXTORTION EXTRADITION FACTORING FINANCIAL ASSETS FINANCIAL CRIME FINANCIAL CRIMES FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INTELLIGENCE FINANCIAL INTELLIGENCE UNIT FINANCIAL LEASING FINANCIAL RESOURCES FINANCIAL SECTOR ASSESSMENT FINANCIAL SERVICES FINANCIAL STATEMENTS FINANCIAL SYSTEM FOREIGN BANK FOREIGN BANKS FOREIGN EXCHANGE FRAUD FUTURES GOOD GOVERNANCE GROSS DOMESTIC PRODUCT HOME HOUSES HUMAN RESOURCES IMPRISONMENT INFLATION INSIDER TRADING INSURANCE PREMIUMS INTANGIBLE INTEREST RATE INTEREST RATES INTERNAL CONTROLS INTERNATIONAL STANDARD INTERNATIONAL STANDARDS INVESTIGATION INVESTIGATIONS INVESTING ISSUANCE JUDGES JUDICIAL PROCESS JUDICIAL SERVICE JUDICIARY JUSTICE JUSTICE SYSTEM KIDNAPPING LAW ENFORCEMENT LAWS LAWYER LAWYERS LEGAL EDUCATION LEGAL ENTITY LEGAL FRAMEWORK LEGAL SYSTEM LEGISLATION LEGISLATIVE FRAMEWORK LEVEL OF COMMITMENT LIABILITY LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUIDATION MANDATES MARKET CAPITALIZATION MARKET SIZE MICRO-FINANCE MICRO-FINANCE INSTITUTIONS MICROFINANCE MINISTER MINISTERS MONETARY FUND MONEY LAUNDERING MONEY MARKET MONEY MARKET INSTRUMENTS MONEY ORDERS MORTGAGE MORTGAGE BANKS MORTGAGE CREDIT MUTUAL FUNDS MUTUAL LEGAL ASSISTANCE NATIONAL SECURITY NEW ENTRANTS NONPROFIT ORGANIZATIONS NOTARIES OFFENCES OFFENDERS PENAL CODE PENALTIES PENALTY PENSION PENSION FUNDS PENSIONS POLICE PORTFOLIO PORTFOLIO MANAGEMENT PRIVATE BANKING PROSECUTION PROSECUTIONS PROSECUTOR PROSECUTORS PUBLIC EDUCATION PUBLIC EXPENDITURES PUBLIC OFFICIAL PUBLIC OFFICIALS REAL ESTATE RECEIPT REGISTRATION REQUIREMENT REGULATORY FRAMEWORK REMEDY REMITTANCE RESERVE RESERVE BANK RESTRAINT ORDER RESTRAINT ORDERS RETURN ROBBERY SANCTIONS SAVINGS SAVINGS BANK SAVINGS INSTITUTIONS SECURITIES SECURITIES MARKET SEIZURE SHAREHOLDERS SOLICITATION STATE GOVERNMENT STOCK EXCHANGE SUBSIDIARY SUFFRAGE SUPERVISION OF BANKS SUPERVISORY AUTHORITY TAX TAXATION TERRORISM THEFT TRADING TRANSACTION TRANSPARENCY TRANSPORT TREASURY TRIAL TRUST DEED TRUSTEE UNDERWRITERS UNIONS WARRANTS WILL WIRE TRANSFER World Bank Malawi - Mutual Evaluation Report : Anti-Money Laundering and Combating the Financing of Terrorism |
geographic_facet |
Africa Malawi |
description |
Malawi is a land-locked country. It is
bordered by Zambia to the north-west, Tanzania to the north
and Mozambique, which surrounds it on the east, south and
west. This Report provides a detailed assessment of the
Anti-Money Laundering AML/Combating the Financing of
Terrorism CFT measures in place in Malawi as of May 11,
2008, two months after completion of the on-site mission. It
describes analyses and makes an assessment of the measures
and systems in place as of that date, and provides
recommendations on how certain aspects of the system could
be strengthened. This report provides a detailed assessment
of the level of compliance, and provides recommendations to
improve compliance with the prevailing context of Malawi.
The government of Malawi has demonstrated a high level of
commitment to establishing a strong AML/CFT framework. This
commitment is reflected by the enactment of the Money
Laundering proceeds of serious crime and Terrorist Financing
act in August 2006 (ML and TF Act) and the beginnings of an
implementation program. Finally, in order to ensure the
effective implementation of the ML and TF framework,
building the technical AML capacity/knowledge of law
enforcement agencies, the public prosecutors and the
judiciary will be critical. |
format |
Economic & Sector Work :: Financial Sector Assessment Program (FSAP) |
author |
World Bank |
author_facet |
World Bank |
author_sort |
World Bank |
title |
Malawi - Mutual Evaluation Report : Anti-Money Laundering and Combating the Financing of Terrorism |
title_short |
Malawi - Mutual Evaluation Report : Anti-Money Laundering and Combating the Financing of Terrorism |
title_full |
Malawi - Mutual Evaluation Report : Anti-Money Laundering and Combating the Financing of Terrorism |
title_fullStr |
Malawi - Mutual Evaluation Report : Anti-Money Laundering and Combating the Financing of Terrorism |
title_full_unstemmed |
Malawi - Mutual Evaluation Report : Anti-Money Laundering and Combating the Financing of Terrorism |
title_sort |
malawi - mutual evaluation report : anti-money laundering and combating the financing of terrorism |
publisher |
Washington, DC |
publishDate |
2012 |
url |
http://documents.worldbank.org/curated/en/2008/12/16270697/malawi-mutual-evaluation-report-anti-money-laundering-combating-financing-terrorism http://hdl.handle.net/10986/7966 |
_version_ |
1764403202069889024 |
spelling |
okr-10986-79662021-04-23T14:02:36Z Malawi - Mutual Evaluation Report : Anti-Money Laundering and Combating the Financing of Terrorism World Bank ABUSE ACCOUNTING ADMINISTRATION OF JUSTICE ANTI-CORRUPTION ANTI-MONEY LAUNDERING ANTICORRUPTION ANTICORRUPTION BUREAU ASSET MANAGERS ASSETS BANK ACCOUNTS BANK CUSTOMERS BANK SUPERVISION BANKING MARKET BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKS BEARER CERTIFICATES BEARER INSTRUMENT BENEFICIARIES BRIBERY BROKERS BUSINESSMAN CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CASH TRANSACTION CDS CERTIFICATES OF DEPOSIT COLLECTIVE INVESTMENT COMMERCIAL BANK COMMERCIAL BANKERS COMMERCIAL BANKS COMMERCIAL LAWS COMMERCIAL TRANSACTIONS COMMON LAW COMPLAINTS CONFIDENCE CONFISCATION ORDER CONSTITUTIONAL COURT CONSUMER CREDIT COOPERATIVES CORRUPT CORRUPT PRACTICES CORRUPTION OFFENCE CORRUPTION PREVENTION COURT COURTS CREDIT CARDS CRIME CRIMES CRIMINAL CRIMINAL LAW CRIMINAL LAWS CRIMINALIZATION CURRENCY CUSTODY CUSTOMARY LAW DEBIT CARDS DEBT DEBT MANAGEMENT DEMOCRACY DEPOSITS DERIVATIVES DEVELOPMENT FINANCE DEVELOPMENT FINANCE INSTITUTIONS DISCRETION DIVERSIFICATION DRUG TRAFFICKING DUE DILIGENCE ECONOMIC GROWTH EMERGENCY SITUATIONS EMPLOYERS ENFORCEMENT AGENCIES ENFORCEMENT AGENCY ETHICS EXCHANGE CONTROL EXPENDITURES EXPLOITATION EXTORTION EXTRADITION FACTORING FINANCIAL ASSETS FINANCIAL CRIME FINANCIAL CRIMES FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INTELLIGENCE FINANCIAL INTELLIGENCE UNIT FINANCIAL LEASING FINANCIAL RESOURCES FINANCIAL SECTOR ASSESSMENT FINANCIAL SERVICES FINANCIAL STATEMENTS FINANCIAL SYSTEM FOREIGN BANK FOREIGN BANKS FOREIGN EXCHANGE FRAUD FUTURES GOOD GOVERNANCE GROSS DOMESTIC PRODUCT HOME HOUSES HUMAN RESOURCES IMPRISONMENT INFLATION INSIDER TRADING INSURANCE PREMIUMS INTANGIBLE INTEREST RATE INTEREST RATES INTERNAL CONTROLS INTERNATIONAL STANDARD INTERNATIONAL STANDARDS INVESTIGATION INVESTIGATIONS INVESTING ISSUANCE JUDGES JUDICIAL PROCESS JUDICIAL SERVICE JUDICIARY JUSTICE JUSTICE SYSTEM KIDNAPPING LAW ENFORCEMENT LAWS LAWYER LAWYERS LEGAL EDUCATION LEGAL ENTITY LEGAL FRAMEWORK LEGAL SYSTEM LEGISLATION LEGISLATIVE FRAMEWORK LEVEL OF COMMITMENT LIABILITY LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUIDATION MANDATES MARKET CAPITALIZATION MARKET SIZE MICRO-FINANCE MICRO-FINANCE INSTITUTIONS MICROFINANCE MINISTER MINISTERS MONETARY FUND MONEY LAUNDERING MONEY MARKET MONEY MARKET INSTRUMENTS MONEY ORDERS MORTGAGE MORTGAGE BANKS MORTGAGE CREDIT MUTUAL FUNDS MUTUAL LEGAL ASSISTANCE NATIONAL SECURITY NEW ENTRANTS NONPROFIT ORGANIZATIONS NOTARIES OFFENCES OFFENDERS PENAL CODE PENALTIES PENALTY PENSION PENSION FUNDS PENSIONS POLICE PORTFOLIO PORTFOLIO MANAGEMENT PRIVATE BANKING PROSECUTION PROSECUTIONS PROSECUTOR PROSECUTORS PUBLIC EDUCATION PUBLIC EXPENDITURES PUBLIC OFFICIAL PUBLIC OFFICIALS REAL ESTATE RECEIPT REGISTRATION REQUIREMENT REGULATORY FRAMEWORK REMEDY REMITTANCE RESERVE RESERVE BANK RESTRAINT ORDER RESTRAINT ORDERS RETURN ROBBERY SANCTIONS SAVINGS SAVINGS BANK SAVINGS INSTITUTIONS SECURITIES SECURITIES MARKET SEIZURE SHAREHOLDERS SOLICITATION STATE GOVERNMENT STOCK EXCHANGE SUBSIDIARY SUFFRAGE SUPERVISION OF BANKS SUPERVISORY AUTHORITY TAX TAXATION TERRORISM THEFT TRADING TRANSACTION TRANSPARENCY TRANSPORT TREASURY TRIAL TRUST DEED TRUSTEE UNDERWRITERS UNIONS WARRANTS WILL WIRE TRANSFER Malawi is a land-locked country. It is bordered by Zambia to the north-west, Tanzania to the north and Mozambique, which surrounds it on the east, south and west. This Report provides a detailed assessment of the Anti-Money Laundering AML/Combating the Financing of Terrorism CFT measures in place in Malawi as of May 11, 2008, two months after completion of the on-site mission. It describes analyses and makes an assessment of the measures and systems in place as of that date, and provides recommendations on how certain aspects of the system could be strengthened. This report provides a detailed assessment of the level of compliance, and provides recommendations to improve compliance with the prevailing context of Malawi. The government of Malawi has demonstrated a high level of commitment to establishing a strong AML/CFT framework. This commitment is reflected by the enactment of the Money Laundering proceeds of serious crime and Terrorist Financing act in August 2006 (ML and TF Act) and the beginnings of an implementation program. Finally, in order to ensure the effective implementation of the ML and TF framework, building the technical AML capacity/knowledge of law enforcement agencies, the public prosecutors and the judiciary will be critical. 2012-06-13T22:10:39Z 2012-06-13T22:10:39Z 2008-12 http://documents.worldbank.org/curated/en/2008/12/16270697/malawi-mutual-evaluation-report-anti-money-laundering-combating-financing-terrorism http://hdl.handle.net/10986/7966 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Financial Sector Assessment Program (FSAP) Economic & Sector Work Africa Malawi |