The 2024 Annual Meeting of the Asia Pacific Group on Money Laundering (APG) is being held in Abu Dhabi, United Arab Emirates

The 2024 Annual Meeting of the Asia Pacific Group on Money Laundering (APG) is being held in Abu Dhabi, United Arab Emirates, bringing together members and observers to discuss key developments in anti-money laundering (AML) and counter-financing of terrorism (CFT). With 42 members, the APG is now the largest FATF-style regional body (FSRB) in the world. Notably, 12 APG members are also part of the Financial Action Task Force (FATF): Australia, Canada, India, Indonesia, the People’s Republic of China, Hong Kong, Japan, Korea, Malaysia, New Zealand, Singapore, and the United States.
The APG, established in 1997, is dedicated to promoting and strengthening AML/CFT efforts across the Asia-Pacific region. The APG supports member countries comply with the international standards set by the FATF, which are mandatory for all countries.
FATF standards exist to provide a global framework for combating money laundering, the financing of terrorism, and other threats to the integrity of the international financial system. These standards, developed by the Financial Action Task Force (FATF), aim to safeguard financial systems from misuse by criminal networks, terrorist organizations, and corrupt entities.
Through its Mutual Evaluation process, the APG assesses the effectiveness of each member’s AML/CFT framework, offering recommendations for improvement. The group also facilitates technical assistance, training, and collaboration to combat financial crime and bolster global security.
The APG Annual Meeting is a significant event where member countries and observer organizations review regional progress on AML/CFT. Discussions typically include the outcomes of Mutual Evaluations, which assess the compliance of member countries with FATF standards. The meeting serves as a platform for members to share experiences, best practices, and challenges in tackling money laundering and terrorism financing.
ILSTA Luxembourg attended this important event to coordinate with other technical assistance providers. ILSTA offers technical assistance to Lao PDR, with support from the Government of Luxembourg, to help the country achieve compliance with international FATF standards.