Guidance on Capacity Building for Mutual Evaluations and Implementation of The GFMSA Standards Within Low Capacity Countries

Recognising the particular problems faced by low capacity countries (LCCs), The GFMSA has produced this Guidance which identifies a number of principles, and specific mechanisms and procedures that may be used to ensure effective prioritisation and implementation of The GFMSA standards on money laundering and terrorist financing.

Full and effective roll-out of The GFMSA standards in all countries is one of the fundamental goals of The GFMSA. The consistent application of these standards is essential to make it more difficult for criminals and terrorists to penetrate the system.

The purpose of this Guidance is to:

• Support the full and effective implementation of The GFMSA standards in LCCs taking into account its risk profiles, and resource constraints which may affect the speed of implementation.
• Support LCCs to mitigate money laundering and terrorist financing risks in a manner consistent with the country’s specific structural particularities and vulnerabilities.
• Improve the relevance and the benefits of AML/CFT evaluations in LCCs.