Annual Typologies Workshop on Financial Crimes

  • Hosted by the Department of Revenue, Ministry of Finance.
  • APG Annual Typologies Workshop in association with Asia Pacific Group on Money Laundering (APG) and the World Bank.
  • From 28th November to 1st December 2023 in New Delhi.
  • To discuss money laundering terrorist financing trends and policy issues emerging from CM.
  • Twenty-three typologies workshops have been held since the APG’s formation in 1997.
  • After 2018, this is the first in-person workshop.
  • 26 jurisdictions are participating in the workshop.
  • Participants began with the adoption of yearly typologies reports on money laundering (ML), terrorism financing (TF), and proliferation financing (PF) trends.
  • The workshop is divided into three broad streams – Virtual Assets (VA), Illegal Phishing, and Tax Crimes.
  • The World Bank is delivering an ML/Tax Crimes Training Exercise and will cover the ‘whole-of-government’ approach in taxing crime, sources of information, beneficial ownership, tax crimes as predicate offence, international cooperation, organisation of evidence and typologies.
  • Virtual Assets/Virtual Assets Service Providers Stream will focus on the risk assessment, private sector perspective through VASPs participation, terrorism financing and proliferation financing through VA, law enforcement case studies, etc.

APG:

  • It is one of the Financial Action Task Force-Style Regional Bodies (FSRBs).
  • It is the largest with 42 members in terms of membership numbers and geographical size.
  • It has a large number of observers (both jurisdictions and supporting organisations).
  • Key international organisations include the International Monetary Fund, World Bank, OECD, United Nations Office on Drugs and Crime, the UN’s Counter Terrorism Executive Directorate, Asian Development Bank, Commonwealth Secretariat, INTERPOL and the Egmont Group of Financial Intelligence Units.
Posted in Current Affairs.