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ANTI-MONEY LAUNDERING AND COUNTERING THE FINANCING OF TERRORISM SYSTEM |
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CTIF-CFI is an independent administrative authority with legal personality and is supervised by the Ministers of Justice and Finance. It is led by a magistrate Mr Philippe de Koster and composed of legal and financial experts and a senior officer seconded from the federal police (see the section Composition of CTIF-CFI). CTIF-CFI is in charge of processing suspicious financial facts and transactions linked to money laundering and terrorism financing reported by institutions and individuals specified in the law. |
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Law of 18 September 2017 Consolidated version
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_________________________________________ International standards |
___________________________________________________________________________ European standards |
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40 FATF Recommandations
____________________________________ FATF Reports on COVID19 May 2020
December 2020
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Consolidated text of Directive (EU) 2015/849
__________________________________________________________________________ New FATF reports
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Best Egmont Group Cases 2015-2020 ____________________________________________________________________ Typologies - Trends
__________________________________________________________________________ FATF - Egmont Group TBML Report On 9 December 2020, the FATF and the Egmont Group published a new joint report on Trade-Based Money Laundering or TBML. TBML is a money laundering technique in which commercial transactions are used to conceal, convert or transfer illicit financial flows through commercial transactions.
TBML uses the complexity of trade systems, in particular in an international context where the involvement of several parties and jurisdictions may hamper due diligence procedures. Based on its experience CTIF-CFI can confirm that this is an important issue. CTIF-CFI has found that TBML practices increasingly feature in files disseminated to the judicial authorities. Several trends, which are illustrated in CTIF-CFI’s annual reports, are confirmed at international level in the report published by the FATF and the Egmont Group. The aim of this report is to raise awareness of this issue, which is insufficiently known, among the public and private sectors. The report contains many cases illustrating how criminals use commercial transactions to move their funds. The FATF and the Egmont Group will continue their cooperation in order to develop risk indicators.
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