[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-108244-en":3,"doc-seo-108244-105":30,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":13,"seo_description":14,"update_tm":28,"read_time":29},108244,34359740700684,"Finn","https://ap-avatar.wpscdn.com/avatar/1f400023980c374ae676?_k=1777273430885731487",8,"Research & Report","West African Economic and Monetary Union - Financial Sector Assessment Program - Technical Note - Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Supervision of the Banking Sector","This technical note examines anti-money laundering and combating the financing of terrorism (AML/CFT) supervision in the banking sector of the West African Economic and Monetary Union. Prepared within the Financial Sector Assessment Program framework, it provides technical analysis and detailed inputs supporting the FSAP findings and recommendations. Coverage spans regional mutual evaluation status, recent reforms, institutional responsibilities, off-site supervision inputs and feedback, risk assessment modeling, and on-site inspection planning, results, sanctions, and corrective actions, plus domestic and international cooperation measures.","Public Disc losure Authorized  \nJune 2022  \nAuthorized  \nPub lic Disc losure Authorized  \nWEST AFRICAN ECONOMIC AND MONETARY UNION  \nFINANCIAL SECTOR ASSESSMENT PROGRAM  \nTECHNICAL NOTE  \nANTI-MONEY LAUNDERING AND COMBATING THE FINANCING OF TERRORISM (AML/CFT) SUPERVISION OF THE BANKING SECTOR  \nPrepared By  \nLegal Department, IMF  \nFinance Competitiveness and Innovation, World Bank  \nThis Technical Note was prepared by IMF and World Bank staff in the context of the Financial Sector Assessment Program. It contains technical analysis and detailed information underpinning the FSAP’s findingsand recommendations. Further information on the FSAP can be found at  \n[http://www.imf.org/external/np/fsap/fssa.aspx](http://www.imf.org/external/np/fsap/fssa.aspx)  \nINTERNATIONAL MONETARY FUND  \nTHE WORLD BANK  \nCONTENTS  \nGLOSSARY _______________________________________________________________________________________4  \nEXECUTIVE SUMMARY __________________________________________________________________________ 5  \nBACKGROUND_________________________________________________________________________________ 10  \nA. Status of AML/CFT Mutual Evaluations in the Region _________________________________________11  \nB. Key, Recent Reforms to the Regional Framework______________________________________________12  \nINSTITUTIONAL FRAMEWORK AND BANKING SECTOR LANDSCAPE ______________________ 13  \nA. Mandate and Responsibilities of the Banking Commission____________________________________13  \nB. Organizational Structure of the General Secretariat ___________________________________________14  \nC. Banking Sector Landscape ____________________________________________________________________14  \nOFF-SITE SUPERVISION PROGRAM___________________________________________________________ 15  \nA. Inputs to Perform Off-Site Supervision________________________________________________________17  \nB. Results and Feedback Provided _______________________________________________________________19  \nC. Recommendations: Off-Site Supervision ______________________________________________________20  \nRISK ASSESSMENT MODEL____________________________________________________________________ 21  \nA. Inputs _________________________________________________________________________________________22  \nB. Weighting of Risk Factors _____________________________________________________________________23  \nC. Results ________________________________________________________________________________________23  \nD. Recommendations: Risk Rating _______________________________________________________________24  \nON-SITE INSPECTION PROGRAM_____________________________________________________________ 26  \nA. Selection of Banks to Inspect__________________________________________________________________27  \nB. Methodology__________________________________________________________________________________28  \nC. Results: Deficiencies and Sanctions or Corrective Measures___________________________________31  \nD. Recommendations: On-Site Inspections ______________________________________________________33  \nDOMESTIC AND INTERNATIONAL COOPERATION __________________________________________ 34  \nA. Cooperation with National Financial Intelligence Units________________________________________34  \nB. Exchange of Information with Extra-Regional Counterparts ___________________________________35  \nC. Recommendations: Domestic and International Cooperation _________________________________36  \nTABLES  \n1. AML/CFT Supervision of the WAEMU Banking Sector: Reform Recommendations _____________ 8  \n2. WAEMU Member-States’ MER Status as of December 2021 ___________________________________11  \n3. Banks Under BC Supervision, by Country ______________________________________________________15  \n4. ML/TF Risk-Ratings of WAEMU Region Banks from 2018–2020 _______________________________ 24  \n5. GSBC On-Site Inspections of Banks from January 2018–December 2021 ______________________ 26  \nGLOSSARY  \nAML/CFT BC  \nBC","cbCaiapqUC04ywlM","https://ap.wps.com/l/cbCaiapqUC04ywlM","pdf",356737,5,1,36,"English","en",105,"# Executive Summary\n# Background\n## Status of AML/CFT Mutual Evaluations in the Region\n## Key, Recent Reforms to the Regional Framework\n# Institutional Framework and Banking Sector Landscape\n## Mandate and Responsibilities of the Banking Commission\n## Organizational Structure of the General Secretariat\n## Banking Sector Landscape\n# Off-Site Supervision Program\n## Inputs to Perform Off-Site Supervision\n## Results and Feedback Provided\n## Recommendations: Off-Site Supervision\n# Risk Assessment Model\n## Inputs\n## Weighting of Risk Factors\n## Results\n## Recommendations: Risk Rating\n# On-Site Inspection Program\n## Selection of Banks to Inspect\n## Methodology\n## Results: Deficiencies and Sanctions or Corrective Measures\n## Recommendations: On-Site Inspections\n# Domestic and International Cooperation\n## Cooperation with National Financial Intelligence Units\n## Exchange of Information with Extra-Regional Counterparts\n## Recommendations: Domestic and International Cooperation\n# Tables\n# Glossary","[{\"question\":\"What is the purpose of this technical note in the FSAP context?\",\"answer\":\"It discusses AML/CFT supervision and provides technical analysis and detailed information underpinning FSAP findings and recommendations.\"},{\"question\":\"Which supervisory components are covered for the banking sector?\",\"answer\":\"The note covers off-site supervision, risk assessment modeling, and on-site inspection programming, including recommendations for each.\"},{\"question\":\"How does the note address coordination and information sharing beyond national authorities?\",\"answer\":\"It includes domestic cooperation with national financial intelligence units and exchange of information with extra-regional counterparts, with 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