The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) has published procedures for its third round of anti-money laundering, countering the financing of terrorism and countering proliferation financing (AML/CFT/CPF) mutual evaluations. Assessments will apply the Financial Action Task Force (FATF) Standards and methodology to examine both technical compliance and whether national AML/CFT/CPF systems operate effectively. The procedures also establish risk based evaluation sequencing, Key Recommended Action (KRA) roadmaps and graduated follow-up arrangements. Evaluations will generally be scheduled five to 11 years after a country’s previous assessment, taking account of its risk profile, follow-up or FATF review status, and the size of its economy and financial sector. Technical compliance reviews will retain previous analysis where neither the FATF Standards nor the country’s framework has materially changed, while effectiveness assessments will cover all 11 Immediate Outcomes. Countries must substantiate compliance, provide current information and facilitate access to relevant authorities and private sector participants. Countries are generally expected within three years of adoption of their mutual evaluation report to have fully or largely addressed all KRAs, improved recommendations rated non-compliant or partially compliant, and implemented revised FATF Standards. Regular follow-up is the default, while specified levels of weak technical compliance or effectiveness trigger enhanced follow-up. More severe deficiencies may qualify a country for FATF International Co-operation Review Group review, subject to the applicable prioritization threshold, while failure to address KRAs can lead to escalating measures including a high-level mission, a public statement and possible consideration of membership suspension or withdrawal.

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