GAFISUD (Spanish: Grupo de Acción Financiera de Sudamérica)
See Financial Action Task Force on Money Laundering in SouthAmerica.
Professionals such as lawyers, notaries, accountants, investment advisors, and trust and company service providers who assist in transactions involving the movement of money, and are deemed to have a particular role in identifying, preventing and reporting money laundering. Their role is important because they can block or facilitate the entry of illicit money into the financial system. Some countries, such as the U.K. and the Cayman Islands, impose due diligence requirements on gatekeepers that are similar to those of financial institutions. Two critical milestones in international gatekeeper regulation have been the European Union’s revised anti-money laundering directive of 2001 and the FATF 40 Recommendations of 2012, both containing anti-money laundering provisions for these professionals.
Giro House
See Remittance Services.
Global Program against Money Laundering (GPML)
Key instrument of the United Nations Office of Drug Control and Crime Prevention in its fight against organized crime. Through GPML, the UN helps member states introduce legislation against money laundering and helps the countries develop and maintain mechanisms that combat the crime. The program encourages anti-money laundering policy development, monitors and analyzes problems and responses, raises public awareness, and acts as a coordinator of joint anti-money laundering initiatives between the UN and other international organizations.
Creator and fund provider of a trust, usually for the benefit of another.
Group of Eight Industrialized Nations (G-8)
Entity composed of the U.S., Japan, Germany, France, Italy, the U.K., Canada and Russia.
Group of Eleven Industrialized Nations (G-10)
The group is made up of the original G-7 group of industrialized nations, plus Sweden, Belgium, the Netherlands, and Switzerland, which was the 11th country to join in 1964. Although it now has 11 members, the group continues to be called the G-10.
Group of Seven Industrialized Nations (G-7)
Body made up of seven countries: U.S., Japan, Germany, France, Italy, the U.K. and Canada.
Gulf Cooperation Council (GCC)
Formed in 1981, the GCC promotes cooperation between its member states in the fields of economy and industry. These member states include Kuwait, Bahrain, Qatar, Saudi Arabia, Oman and the United Arab Emirates. The GCC is a member of FATF, although its individual members are not.