What Is The Asia Pacific Group (APG)?
The Asia Pacific Group on Money Laundering is an inter-governmental organization working to implement international standards for the prevention of money laundering and terrorist financing in the Asia Pacific region.
The Asia Pacific Group (APG) is an evolution of the FATF-Asia Secretariat, which was originally formed in 1995. After the last meeting of the secretariat in 1997, the APG was established with 13 founding members and a goal to ensure AML compliance across the region. After September 11, that goal expanded to include countering terrorist financing.
Today, the APG has grown to include 41 member-states along with 8 observer states, and a number of observer organizations, including the International Monetary Fund, the United Nations, and the World Bank. Part of a network of FATF-style regional bodies (FSRB), the APG is the largest of its type both by geographic and membership size. The APG’s activities are supported and coordinated by its Secretariat, headquartered in Sydney, Australia.