Illustrative image (Source: internet)Hanoi (VNA) – The Asian Development Bank (ADB) is promotingits efforts to help countries in the Asia-Pacific region combat money launderingand 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-moneylaundering and countering the financing of terrorism (AML/CFT) in 2017.
Through closer coordination between relevant parties, such as banks andfinancial institutions, and governments, the bank has also taken steps toimprove the countries' overall compliance to anti-money laundering policies.
Head of OAI John Versantvoort said ADB remains a steadfast partnerof countries in the Asia and Pacific region in fighting corruption and moneylaundering, and improving governance.
The report also highlighted efforts made by ADB in the yearthrough OAI, especially in increasing knowledge sharing activities.
In 2017, ADB helped the Philippines improve legal regulations to combat moneylaundering. The bank also held a training session for local officials to bettertheir understanding of money laundering and terrorism financing in the casinosector.
It is also supporting Mongolia in implementing a programme that would assist localbanks and money service businesses, such as pawnshops and remittance companies,as well as real estate agents to develop programmes on fighting moneylaundering and terrorism financing.
Last year, ADB promoted campaigns to expand sharing of its anti-corruption effortsand 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-corruptionand Respect at Work, for ADB staff in May 2017, while organising 68 stafftraining courses with over 1,400 participants in the year.-VNA
VNA
