Also known as the Financial Markets Regulator, AMF is France's stock market regulator. It, against money laundering and fraud, is an independent public agency responsible for protecting investments in traded financial instruments in France. Also, AMF plays the most critical role in maintaining traditional financial markets.
Autorité des marchés financiers (AMF) was established under the Financial Security Act. The commission was formed by merging three French financial regulatory bodies. These regulators are des opérations de bourse (COB), Conseil des marchés financiers (CMF), and Conseil de discipline, respectively. de la gestion financière (CDGF). AMF is an independent public organization responsible for financial regulation in France.
Autorite des Marches Financiers (AMF) is one of the first institutions that come to mind in the fight against money laundering. It acts effectively against financial crimes thanks to a series of measures it takes.
AMF's anti-money laundering activities include:
AMF regularly updates the risk profiles of customers belonging to financial institutions. According to AMF, every financial institution has to comply with a risk-based procedure. They must also have AML Policies and control systems implemented using AMF guidelines. These regulations should be determined according to the risk level of each customer.
Due diligence measures at the entrance and throughout the business relationship play an essential role in minimizing money laundering risk. AMF sees Customer Due Diligence(CDD) and Enhanced Due Diligence(EDD) processes as the key to combating money laundering and terrorist financing.
5AMLD was created to improve measures for financial transactions to prevent terrorist financing. According to the AMF decisions, companies' measures within the scope of combating money laundering must comply with 5AMLD.
One of the sanctions AMF imposes on financial institutions is to report any suspicious behavior related to money laundering. According to this regulation, which was created based on a risk-based approach, companies must report to TRAFCIN, cooperating with AMF. (TRAFCIN is the executive body of the French Ministry of Finance.)
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