The AARC team have supported the Green Climate Fund (GCF) in preparations to adopt a group wide Anti-Money Laundering/Countering the Financing of Terrorism Standard. This AML/CFT Policy aims to safeguard the Green Climate Fund (GCF) against Money Laundering (ML) and the Financing of Terrorism (FT). The Policy outlines the principles and minimum standards of internal AML/CFT controls which should be adhered to by the GCF to mitigate reputational, regulatory, legal, and financial loss risks. The key objectives of this assignment were:

  • To implement GCF’s AML/CFT Policy
  • To establish guidelines and responsibilities to prevent GCF from being used as an instrument for money laundering and terrorism financing
  • To outline the “Know Your Counterparty/Customer” principle as a cornerstone for the Fund’s practices and operations.