Today, the Accounting Research Institute (ARI) presented its proposal on "ARI-CCM Collaborative Works in Preparation of Forthcoming APG Mutual Evaluation" to the Board of Directors of Companies Commission of Malaysia (CCM). The Asia Pacific Group on Money Laundering (better known as APG) is an international organisation (regionally focused) consisting of 41 member-countries and a number of international and regional observers including the United Nations, IMF, FATF, Asian Development Bank, ASEAN Secretariat, Pacific Islands Forum Secretariat and the World Bank. The APG has a number of primary functions as follows:
(1) Assess APG members' compliance with the global Anti Money Laundering/Counter Financing of Terrorism (AML/CFT) standards through mutual evaluations; (2) Coordinate technical assistance and training with donor agencies and APG members/observers to improve compliance with AML/CFT standards; (2) Co-operate with international AML/CFT network; (4) Conduct research into money laundering and terrorism financing methods, trends, risk and vulnerabilities and (5) Contribute to the global AML/CFT policy development by active Associate Membership of FATF. Basically, the proposed ARI-CCM collaboration focuses on creating awareness on AML/CFT standard among Non-Profit Organisations in Malaysia. In the forthcoming APG Mutual Evaluation, one of the main focuses is to evaluate the governance and financing reporting of NPOs. The collaboration will include collaborative research, training and outreach programs. The BOD was indeed very supportive of the collaborative proposal.
(1) Assess APG members' compliance with the global Anti Money Laundering/Counter Financing of Terrorism (AML/CFT) standards through mutual evaluations; (2) Coordinate technical assistance and training with donor agencies and APG members/observers to improve compliance with AML/CFT standards; (2) Co-operate with international AML/CFT network; (4) Conduct research into money laundering and terrorism financing methods, trends, risk and vulnerabilities and (5) Contribute to the global AML/CFT policy development by active Associate Membership of FATF. Basically, the proposed ARI-CCM collaboration focuses on creating awareness on AML/CFT standard among Non-Profit Organisations in Malaysia. In the forthcoming APG Mutual Evaluation, one of the main focuses is to evaluate the governance and financing reporting of NPOs. The collaboration will include collaborative research, training and outreach programs. The BOD was indeed very supportive of the collaborative proposal.
