San Marino; Financial Sector Assessment Program-Technical Note on Anti-Money Laundering and Combating the Financing of Terrorism

The level of domestically generated proceeds of serious crime in San Marino is low. However, San Marino is vulnerable to money laundering (ML) of proceeds of crimes committed abroad. The Sammarinese financial sector, until recently, was characterized by a number of features that have created a favorable environment to ML. San Marino has made considerable progress in bringing its legal and institutional framework in line with the Financial Action Task Force (FATF) recommendations. Banks and financial institutions have started implementing the new Antimoney Laundering and Combating the Financing of Terrorism (AML/CFT) requirements, with mixed results.

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Year of publication:	2010-10-20
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Banking sector \| Combating the financing of terrorism \| Financial institutions \| Financial sector \| International cooperation \| Nonbank financial sector \| due diligence \| money laundering \| law enforcement \| suspicious transaction \| beneficial owners \| judicial authority \| financial intelligence unit \| suspicious transactions \| law enforcement authorities \| enforcement authorities \| insurance companies \| suspicious transaction report \| terrorist financing \| risk customers \| insurance intermediaries \| suspicious transaction reports \| foreign counterparts \| transaction reports \| tax evasion \| mutual evaluation \| criminal investigations \| legal assistance \| foreign banks \| beneficial ownership \| fraudulent means \| foreign authority \| insurance services \| internal policies \| financial secrecy \| law enforcement agencies \| criminal organizations \| record keeping requirements \| financial crime \| banking secrecy \| criminal proceeds \| foreign authorities \| business relations \| financial crimes \| terrorist assets \| anti money laundering \| mutual evaluations \| predicate offence \| international standards \| internal controls \| compliance officer \| drug trafficking \| internal rules \| share information \| anonymous accounts \| criminal investigation \| customer identity \| predicate offences \| life insurance \| adequate screening procedures \| internal audit \| secrecy provisions \| supervisory authorities \| financial sector supervision \| risk profile \| investigative techniques \| internal procedures

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 10/318 2 pages long
Source:	RePEc - Research Papers in Economics

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