According to ADB website, the TA will support the banking and finance sectors in developing member countries (DMCs) of the ADB to improve the implementation of anti-money laundering and combating the financing of terrorism regulatory measures, and strengthen the capacity of domestic banks and nonbank financial institutions to comply with the requirements of the Financial Action Task Force (FATF). The impact of the TA will be that the legal and institutional systems to combat money laundering and the financing of terrorism are established and implemented effectively.
It is aligned with the ADB policy on combating money laundering and the financing of terrorism, which calls on ADB to:
1. Assist DMCs in establishing and implementing effective legal and institutional systems to combat money laundering and the financing of terrorism
2. Increase collaboration with other international organizations, and (iii) strengthen internal controls to safeguard ADB funds.
Project Officer: Syquia, Jose Luis C.
No contact information provided at the time of disclosure.
ACCOUNTABILITY MECHANISM OF ADB
The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main