OSCE launches data collection handbook to help fight money laundering and terrorism financing

Guidelines developed by the OSCE on improving data collection to help combat money laundering and terrorism financing were launched in Vienna on 16 October 2012.

The OSCE Handbook on Data Collection in support of Money Laundering and Terrorism Financing National Risk Assessments is designed to assist officials in collecting comprehensive and quality statistics on their national systems to counter money laundering and the financing of terrorism. Data limitations have created difficulties for countries seeking to evaluate their efforts through risk assessments and the handbook provides suggested guidelines for countries developing or improving their data collection practices.

The handbook was developed by the Office of the Co-ordinator of OSCE Economic and Environmental Activities with funding and support from the 2012 Irish Chairmanship of the OSCE and Irish Aid, and in co-ordination with the Financial Action Task Force, the International Monetary Fund and the World Bank.

Speaking at the launch of the handbook, Irish Ambassador to the OSCE Eoin O’Leary said: “With the updated recommendations of the Financial Action Task Force, all of us are now obligated to use all available information to assess the risks of money laundering and financing of terrorism taking place without interruption in our countries.”

“We must acknowledge that data collection is a challenge all countries have struggled with and that the data we have today is neither of a quantity or quality that would allow us to make the best possible assessments of the risks we face from money launderers and financiers of terrorism.”

“This handbook will be of great use in assisting all of us in organizing the information we have at our disposal,” he added.

The handbook was officially presented at the OSCE’s Economic and Environmental Dimension Implementation Meeting. It is available on the OSCE website at //www.osce.org/eea/96398 and hard copies can be obtained by contacting the Office of the Co-ordinator of OSCE Economic and Environmental Activities at pm-ceea@osce.org.