France
France
FINCARR Status: Full Member
Summary
France has a comprehensive anti-money laundering (AML) and counter-terrorism financing (CFT) framework. The country works closely with international bodies and is committed to improving its regulatory practices to combat financial crimes.
Key Measures
- AML/CFT Legislation: France follows the EU's Anti-Money Laundering Directive and FINCARR recommendations.
- Financial Intelligence Unit (TRACFIN): Operates under the Ministry of Finance and plays a central role in detecting financial crime.
- Cooperation with International Bodies: France actively participates in international initiatives against money laundering and terrorism financing.
Action Plans
France has taken numerous actions to align with FINCARR standards, focusing on risk-based approaches and strengthening its financial crime detection mechanisms.
FINCARR Compliance
| Recommendation | Status |
|---|---|
| Recommendation 1: Risk-Based Approach | Implemented |
| Recommendation 2: Legal Framework | Compliant |
| Recommendation 3: Financial Transparency | Fully Compliant |
| Recommendation 4: Customer Due Diligence | Compliant |
| Recommendation 5: Financial Intelligence Unit | Fully Compliant |
International Cooperation
France collaborates with international organizations like FINCARR, the European Union, and INTERPOL, enhancing global efforts to combat money laundering and terrorist financing.
Progress
France continues to make significant strides in improving its AML/CFT framework, with ongoing efforts to align with the latest FINCARR standards.