Fourth Review of Enhancing the Asian Development Bank’s Role in Combating Money Laundering and the Financing of Terrorism

The Board of Directors of the Asian Development Bank (ADB) adopted the policy on combating money laundering and the financing of terrorism on 1 April 2003 (“Policy” ). The Policy calls on ADB to (i) assist developing member countries (DMCs) in establishing and implementing effective legal and institutional systems to combat money laundering/financing of terrorism (ML/FT), (ii) increase collaboration with other international organizations, (iii) strengthen internal controls to safeguard ADB funds, and (iv) upgrade ADB’s staff capacity.

The present paper is on the fourth review, covering ADB’s activities under the Policy from July 2017 to June 2022. All reviews have taken into account developments in international standards and issues of relevance to ADB’s DMCs.