With the approval of all members of the Financial Action Task Force (FATF), the international anti-money laundering/counter terrorist financing (AML/CFT) standard setting body, the Director of the Macao Financial Intelligence Office (GIF) was appointed unanimously earlier as the Co-Chair of the Asia/Pacific Joint Group, which is a regional subgroup of FATF’s International Co-operation Review Group (ICRG). This appointment not only recognizes Macao SAR’s efforts and performance in combating money laundering and terrorist financing, but also demonstrates Macao SAR’s commitment to international affairs and enhances the positive image of Macao SAR. This is being the second appointment of GIF representatives, on behalf of the Macao SAR, as the Co-Chair of the regional group.
The ICRG is an important sub-group under FATF, with the primary roles of preparing a watch list of members with AML/CFT deficiencies and to closely monitor their improvement measures and progress. As the Co-Chairs of the regional group, it is necessary to report to the ICRG Co-Chairs regularly about the progress of its regional members. The ICRG Co-Chairs will then report to all FATF members and decide whether or not the members should remain on the watch list.
In addition, GIF has been actively sending delegates representing Macao SAR to participate in international organizations over the years. The Legal Counsel of GIF was appointed as the Co-Chair of the Ad Hoc Working Group on FATF Issues of the Asia/Pacific Group on Money Laundering (APG) between 2010 and 2013. Since 2013, the representative has been the Co-Chair of the Mutual Evaluation Committee of APG for his term of office until 2022. The main tasks of the Mutual Evaluation Committee Co-Chairs are to ensure the effective progress of the APG Mutual Evaluation (ME), to coordinate discussion during members’ meeting on the ME/follow-up reports of the assessed member according to the ME procedures, and to deliver APG assessor training, pre-ME training and technical assistance.
GIF will continue to participate actively in the assessment work of regional members and take up positions in international organizations, so as to fulfill the obligation of the Macao SAR being a member of the international community and to further improve the international status of the Macao SAR.View gallery