icon-grid
Better Regulation logo
Table of Contents

Table of Contents

Expand all headings Collapse all headings Expand side bar Collapse side bar
International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation - The FATF Recommendations (updated November 2023)List of the FATF RecommendationsIntroductionThe FAFT RecommendationsA. AML/CFT policies and coordination (Recommendations 1-2)B. Money laundering and confiscation (Recommendations 3-4)C. Terrorist financing and financing of proliferation (Recommendations 5-8)D. Preventive measures (Recommendations 9-23)E. Transparency and beneficial ownership of legal persons and arrangements (Recommendations 24-25)F. Powers and responsibilities of competent authorities, and other institutional measures (Recommendations 26-35)G. International Cooperation (Recommendations 36-40)Interpretive Notes to the FATF RecommendationsInterpretive Note to Recommendation 1 (Assessing ML/TF risk and applying a risk-based approach)Interpretive Note to Recommendation 2Interpretive Note to recommendation 3 (Money Laundering offence)Interpretive Note to recommendations 4 and 38 (Confiscation and provisional measures)Interpretive Note to recommendation 5 (Terrorist financing offence)Interpretive Note to Recommendation 6 (Targeted Financial sanctions related to terrorism and terrorist financing)Interpretive Note to Recommendation 7 (Targeted financial sanctions related to proliferation)Interpretive Note to Recommendation 8 (Non-profit organisations)Interpretive Note to Recommendation 10 (Customer due Diligence)Interpretive Note to Recommendation 12 (Politically exposed persons)Interpretive Note to Recommendation 13 (Correspondent banking)Interpretive Note to Recommendation 14 (Money or value transfer services)Interpretive Note to recommendation 15Interpretive Note to Recommendation 16 (wire transfers)Interpretive Note to Recommendation 17 (Reliance on third parties)Interpretive Note to Recommendation 18 (Internal controls and foreign branches and subsidiaries)Interpretive Note to Recommendation 19 (Higher-risk countries)Interpretive Note to Recommendation 20 (Reporting of suspicious transactions)Interpretive Note to Recommendations 22 and 23 (DNFBPS)Interpretive Note to Recommendation 22 (DNFBPS - customer due diligence)Interpretive Note to Recommendation 23 (DNFBPS -other measures)Interpretive Note to Recommendation 24 (Transparency and beneficial ownership of legal persons)Interpretive Note to Recommendation 25 (Transparency and beneficial ownership of legal arrangements)Interpretive Note to Recommendation 26 (Regulation and supervision of financial institutions)Interpretive Note to Recommendation 28 (Regulation and supervision of DNFBPS)Interpretive Note to Recommendation 29 (Financial intelligence UNITS)Interpretive Note to Recommendation 30 (Responsibilities of law enforcement and investigative authorities)Interpretive Note to recommendation 32 (Cash couriers)Interpretive Note to Recommendation 38 (Mutual legal assistance: freezing and confiscation)Interpretive Note to Recommendation 40 (other forms of international cooperation)Legal basis of requirements on financial institutions and DNFBPS and VASPSGeneral GlossaryTable of AcronymsAnnex I: FATF Guidance DocumentsAnnex II: Information on updates made to the FATF Recommendations
Page Overview
Document Overview
Tools
Set a date to view the document
Text comparison options
Full text - Date 1 vs Date 2
Amendments requiring commencement - Current text vs Text requiring commencement
Draft proposed changes - Current text vs Text proposed by drafting documents
Coming soon: Any documents - Any document vs Another document at any date
Print / Export options
Current page
Whole document
Selected pages
Consolidated PDF of the entire document as of 25th December 2024
Export
Export line by line
Export provision to provision
Report template
Create report template
Alert me to changes
Manage alerts
Bookmarks
This page
This document
Manage bookmarks
Search within this document
View previous searches
Share
Get page link
Share via email application
PreviousNext
Version date: 16 November 2023 - onwards
Version 9 of 9

Interpretive Note to Recommendation 7 (Targeted financial sanctions related to proliferation)

A. Objective

PreviousNext