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Mali: Technical Assistance Report-Anti-Corruption and Anti-Money Laundering

Summary: Strengthening the Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) framework would support the fight against corruption. The strengthening and effective enforcement of certain AML measures would help preventing and detecting criminal conduct, and identifying and recovering the proceeds of corruption. Implementation of a sound AML/CFT framework would also contribute to combat fraud (i.e. forgery or overbilling, etc.), tax evasion, terrorism, and organized crime. The AML/CFT tools and means that can support anti- corruption (AC) efforts are the following: • AML/CFT policies and coordination: these measures are intended to assess AML/CFT risks and to apply an approach based on the specific risks related to the laundering of the proceeds of corruption. They also serve to reinforce domestic cooperation and coordination in order to ensure effective enforcement of a criminal policy focused on AML/CFT, and in particular on the proceeds of corruption. • Criminalization of money laundering and confiscation: the crime of money laundering (ML) must be properly defined, and the associated penalties must be dissuasive, in order to encourage the authorities to prosecute for ML, and allow the strengthening and effective enforcement of provisional measures (freezing and seizure of assets) and confiscation. Such measures would help to prevent and detect acts of corruption, and also to identify and recover the proceeds of corruption.