A Review on Compliance Rating: FATF Special Recommendation IX Cross Border Declaration or Disclosure

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• 作者：Salwa Zolkaflil ; Normah Omar ; ^{normah645@salam.uitm.edu.my" class="auth_mail" title="E-mail the corresponding author} ; Wan Noor Hafieza Abdullah ; Sharifah Nazatul Faiza Syed Mustapha Nazri
• 关键词：FATF Special Recommendation IX ; Cross Border Declaration or Disclosure ; APG Mutual Evaluation Report ; Compliance Rating
• 刊名：Procedia Economics and Finance
• 出版年：2015
• 出版时间：2015
• 年：2015
• 卷：31
• 期：Complete
• 页码：535-550
• 全文大小：330 K

文摘

FATF Special Recommendation IX (SR IX) focuses on cross border declaration or disclosure with the objective to detect and prevent illicit cross-border transportation of cash and bearer negotiable instruments. In complying with the recommendation, countries are required to i) have measures for detection, ii) ensure that relevant authorities are competent to stop or restrain and iii) ensure that effective, proportionate and dissuasive sanctions are available to deal with any irregularities. However, there are countries which are still struggling to comply with the special recommendation since it is challenging. Therefore, this study investigates on the compliance ratings of 40 countries on FATF Special Recommendation IX (SR IX) based on Mutual Evaluation Reports issued by Asia Pacific Group on Money Laundering (also known as APG). Based on the Mutual Evaluation Reports, this study also looks into recommendation and comments given by respective panels. The compliance ratings together with panel's recommendation and comments compiled in this study will be helpful to relevant authorities for their countries’ future improvement. The findings will also highlight on issues related to cross border declaration or disclosure for future research.