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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Bibliographic Details
Main Author: World Bank
Format: Financial Sector Assessment Program (FSAP)
Language:English
Published: Washington, DC 2012
Subjects:
CDS
TAX
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
id okr-10986-7966
recordtype oai_dc
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic 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