FATF Recommendation 40

Other Forms of International Cooperation

Countries should ensure that competent authority:

  • Can rapidly, constructively and effectively provide the widest range of international cooperation in relation to money laundering (ML), associated predicate offences and terrorist financing (TF).
  • Do so both spontaneously and upon request, and that there is a lawful basis for providing cooperation.
  • Ate authorised to use the most efficient means to cooperate.
  • Make their best efforts to provide complete factual and as appropriate, legal information. including indicating any need for urgency, to enable timely and efficient execution of the request as well as the foreseen use of the information requested.
  • Are not prohibited or placed under unreasonable or unduly restrictive conditions on the provision of exchange of information or assistance.
  • Maintain appropriate confidentiality for any request for cooperation and the information exchanged, in order to protect the integrity of the investigation inquiry, consistent WIth both parties’ obligations concerning privacy and data protection.
  • Are granted bilateral or multilateral agreements or arrangements, such as a Memorandum of Understanding (MOU), they require in a timely way with the widest range of foreign counterparts.
  • Use clear channels or mechanisms for the effective transmission and execution of requests for information or other types of assistance.
  • Have clear and efficient processes for the prioritisation and timely execution of requests and for safeguarding the information received.

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