Chu Un I, director of the local government’s Financial Intelligence Office (GIF), was appointed as the co-chair of the Asia/Pacific Joint Group, according to a statement by the office yesterday.
The decision was approved unanimously by all members of the Financial Action Task Force (FATF), the statement said.
The statement did not elaborate on when Chu was appointed.
The Asia/Pacific Joint Group is a regional subgroup of the International Cooperation Review Group (ICRG), which is under jurisdiction of the FATF, the statement said.
According to the statement, Chu’s appointment not only recognises the local government’s efforts and its performance in combating money laundering and terrorist financing, but also demonstrates the local government’s commitment to international affairs and enhances the positive image of the Macau Special Administrative Region (MSAR).
This is the second time a GIF official has been appointed as the co-chair of the regional group, the statement said.
According to the statement, the ICRG is an important sub-group under the FATF, with the primary roles of preparing a watch list of members with anti-money laundering/counter terrorist financing (AML/CFT) deficiencies and closely monitoring their improvement measures and related progresses.
ICRG’s co-chair will report to all FATF members and decide whether or not the members should remain on the watch list, the statement noted.
The office will continue to participate in the assessment of regional members and take up positions in international organisations, in order to fulfil the obligations of the MSAR as a member of the international community, as well as to further improve the international status of the MSAR, the statement underlined.
