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Prevention of Money Laundering and Terrorism Financing - Approval of the work projects by the General Meeting of Member Notariats (Cancun, Mexico - November 11, 2017)
News Prevention of Money Laundering and Terrorism Financing - Approval of the work projects by the General Meeting of Member Notariats (Cancun, Mexico - November 11, 2017)
22/11/2017 On November 10 and 11, 2017, was held the first session of the Assembly of Notariats Members of the 2017-2019 legislature in Cancun (Mexico).
This meeting of the Presidents of the UINL Member Notariats was an opportunity to deal with the theme of "THE USE OF PROFESSIONALS BY TRANSNATIONAL ORGANIZED CRIME. THE ROLE OF THE NOTARIAT IN THE PREVENTION OF MONEY LAUNDERING."
President of the UINL, Mr. José Marqueño de Llano, introduced the theme, recalling the importance of the fight against money laundering.
At this legal seminar, Amb. Eugenio Maria Curia, President of GAFILAT, Argentine Representative of FATF and GAFILAT, Dr. Nelson Mena, Senior Legal Expert of the Department against Transnational Organized Crime of the Organization of American States-OAS and also Mr. Arz El Murr, Financial sector and AML/CFT expert at International Monetary Fund-IMF, Mrs. Tanjit Sandhu Kaur, Financial Sector Specialist at World Bank-WB and finally Dr. Mariano Garcia Fresno, Head of the Analysis and Communication Unit of the Centralized Prevention Organization (OCP) for money laundering of Spanish Notariat General Council.
All stressed the need to include notaries in money laundering prevention models.
Following these presentations and debates, the Member Notariats approved UINL work plan regarding prevention of money laundering and terrorism financing.
The projects to be implemented are summarized here below:
- Develop a guide of good notarial practices in this field (series of methodologies, systems, tools, and applied techniques) that will allow not only the accomplishment of the preventive measures in each Notariat but also the harmonization of procedures between all the UINL Member Notariats;
- Defining risk indicators providing clear and precise guidelines to help notaries improve their process of identifying, controlling and analysing transactions, in order to detect those likely to be related to money laundering and financing of terrorism;
- Promote the role of the self-regulatory bodies and define the functions that these bodies could assume to facilitate the fulfilment of their obligations by the notaries;
- Clarify the scope of FATF Recommendations 22 and 23 and the role of the notary in their implementation.
- Participate actively in technical assistance projects provided by the international financial institutions, stressing the importance of the notarial function in the prevention of money laundering and terrorist financing.
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Prevention of Money Laundering and Terrorism Financing - Approval of the work projects by the General Meeting of Member Notariats (Cancun, Mexico - November 11, 2017)
On November 10 and 11, 2017, was held the first session of the Assembly of Notariats Members of the 2017-2019 legislature in Cancun (Mexico).
This meeting of the Presidents of the UINL Member Notariats was an opportunity to deal with the theme of "THE USE OF PROFESSIONALS BY TRANSNATIONAL ORGANIZED CRIME. THE ROLE OF THE NOTARIAT IN THE PREVENTION OF MONEY LAUNDERING."
President of the UINL, Mr. José Marqueño de Llano, introduced the theme, recalling the importance of the fight against money laundering.
At this legal seminar, Amb. Eugenio Maria Curia, President of GAFILAT, Argentine Representative of FATF and GAFILAT, Dr. Nelson Mena, Senior Legal Expert of the Department against Transnational Organized Crime of the Organization of American States-OAS and also Mr. Arz El Murr, Financial sector and AML/CFT expert at International Monetary Fund-IMF, Mrs. Tanjit Sandhu Kaur, Financial Sector Specialist at World Bank-WB and finally Dr. Mariano Garcia Fresno, Head of the Analysis and Communication Unit of the Centralized Prevention Organization (OCP) for money laundering of Spanish Notariat General Council.
All stressed the need to include notaries in money laundering prevention models.
Following these presentations and debates, the Member Notariats approved UINL work plan regarding prevention of money laundering and terrorism financing.
The projects to be implemented are summarized here below:
- Develop a guide of good notarial practices in this field (series of methodologies, systems, tools, and applied techniques) that will allow not only the accomplishment of the preventive measures in each Notariat but also the harmonization of procedures between all the UINL Member Notariats;
- Defining risk indicators providing clear and precise guidelines to help notaries improve their process of identifying, controlling and analysing transactions, in order to detect those likely to be related to money laundering and financing of terrorism;
- Promote the role of the self-regulatory bodies and define the functions that these bodies could assume to facilitate the fulfilment of their obligations by the notaries;
- Clarify the scope of FATF Recommendations 22 and 23 and the role of the notary in their implementation.
- Participate actively in technical assistance projects provided by the international financial institutions, stressing the importance of the notarial function in the prevention of money laundering and terrorist financing.