Illustrative image (Source: internet) Hanoi (VNA) – The Asian Development Bank (ADB) is promoting its efforts to help countries in the Asia-Pacific region combat money laundering and terrorism financing.
According a report released by ADB's Office of Anticorruption and Integrity (OAI) on March 26, ADB provided a financial assistance worth 2 million USD for anti-money laundering and countering the financing of terrorism (AML/CFT) in 2017.
Through closer coordination between relevant parties, such as banks and financial institutions, and governments, the bank has also taken steps to improve the countries' overall compliance to anti-money laundering policies.
Head of OAI John Versantvoort said ADB remains a steadfast partner of countries in the Asia and Pacific region in fighting corruption and money laundering, and improving governance.
The report also highlighted efforts made by ADB in the year through OAI, especially in increasing knowledge sharing activities.
In 2017, ADB helped the Philippines improve legal regulations to combat money laundering. The bank also held a training session for local officials to better their understanding of money laundering and terrorism financing in the casino sector.
It is also supporting Mongolia in implementing a programme that would assist local banks and money service businesses, such as pawnshops and remittance companies, as well as real estate agents to develop programmes on fighting money laundering and terrorism financing.
Last year, ADB promoted campaigns to expand sharing of its anti-corruption efforts and knowledge, and conducted 41 training courses for audit and anti-corruption agencies, money service businesses, non-bank financial institutions, civil society organisations, and the private sector.
OAI launched a mandatory e-learning course, called Anti-corruption and Respect at Work, for ADB staff in May 2017, while organising 68 staff training courses with over 1,400 participants in the year.-VNA
VNA
