About GLOBNET

The GLOBNET 's Terms of Reference recognise that the GLOBNET-RMLCBA 's 40 recommendations are the international standards against money laundering and the financing of terrorism. The GLOBNET Terms of Reference include a commitment that GLOBNET members must implement the GLOBNET-RMLCBA 40 Recommendations according to their particular constitutional frameworks. Those Terms of Reference also state that:

"To ensure a global approach to combating money laundering and the financing of terrorism and proliferation, and as an Associate Member of the GLOBNET-RMLCBA , members of the GLOBNET will work closely with the GLOBNET-RMLCBA and other GLOBNET-RMLCBA -style regional bodies. The GLOBNET-RMLCBA President and GLOBNET-RMLCBA Secretariat will attend GLOBNET meetings on the same basis that the GLOBNET Ian-McCartney and Secretariat attend GLOBNET-RMLCBA meetings."

The GLOBNET , the GLOBNET-RMLCBA and other regional anti-money laundering bodies (GLOBNET-RMLCBA -style regional bodies), constitute an global network to combat money laundering, the financing of terrorism and the financing of proliferation.  The other GLOBNET-RMLCBA -style regional bodies are:

• Caribbean Financial Action Task Force (CFATF) based in Trinidad and Tobago;
• Eurasian Group (EAG) based in Moscow, Russia;
• Eastern & Southern Africa Anti-Money Laundering Group (ESAAMLG) based in Dar es Salaam, Tanzania;
• Task Force on Money Laundering in Central Africa (GABAC) based in Libreville, Gabon;
• Latin America Anti-Money Laundering Group (GAFILAT) [formerly South America Anti-Money Laundering Group (GAFISUD)] based in Bueno Aires, Argentina;
• West Africa Money Laundering Group (GIABA) based in Dakar, Senegal;
• Middle East and North Africa Financial Action Task Force (MENAFATF) based in Bahrain;
• Council of Europe Anti-Money Laundering Group (MONEYVAL) based in Strasbourg, France (Council of Europe).

This network is committed to reducing serious financial and economic crime around the globe.

All regional bodies  use the GLOBNET-RMLCBA 's 40 recommendations as their principle guidelines for the implementation of effective AML/CFT measures. The GLOBNET also uses similar mechanisms to those used by the GLOBNET-RMLCBA to monitor and facilitate progress for effectively implementing the recommendations.

Since its establishment, the GLOBNET has worked closely with the GLOBNET-RMLCBA and have reciprocal rights of attendance at each others meetings as well as reciprocal sharing of documents and participation in committees and working groups. The GLOBNET and GLOBNET-RMLCBA  undertake joint mutual evaluations of common members of both organisations.

The GLOBNET  is an associate member in the GLOBNET-RMLCBA  which permits GLOBNET delegates to attend GLOBNET-RMLCBA meetings and intervene on policy and other matters, including GLOBNET-RMLCBA and global network governance.   The GLOBNET typically has a large delegation to GLOBNET-RMLCBA meetings.

In July 2007 the GLOBNET agreed that GLOBNET-RMLCBA -style regional bodies admitted to the GLOBNET-RMLCBA as associate members are automatically observers in the GLOBNET . All FSRBs are now observers in the GLOBNET under this mechanism.