Como a supervisão realizada pelo COAF afeta a conformidade dos seus regulados?

Resumo

Purpose – In 2013, the Financial Action Task Force – FATF incorporated the effectiveness component in the methodology for evaluating member countries regarding the degree of adherence to their standards on combating money laundering and the financing of terrorism and the proliferation of weapons of mass destruction – AML/CFT. Supervision of obliged entities and persons to AML/CFT duties is essential for the functioning of the entire system. This paper proposes a methodology for measuring the effectiveness of AML/CFT supervision carried out by COAF, the Brazilian financial intelligence unit.
 Design/methodology/approach – Based on a sample of 6,699 COAF’s regulated companies, respondents of self-assessments, a quasi-experimental study was carried out with quantitative and qualitative secondary data structured in a panel, in order to control unobservable characteristics of supervisees and favor causal inference. Then, the interrupted time series (ITS) design was applied with measurements taken before and after each of three treatments: 1 - notification of inspection action; 2 - notification of initiation of sanctioning administrative process; and 3 - notification of decision in sanctioning administrative process. The dependent variable was the suspicious transaction reports (STRs) and currency transaction reports (CTRs) filed by supervisees to COAF.
 Findings – The hypothesis “the supervision in AML/CFT carried out by COAF affects the compliance of its regulated companies” was validated by the effects of treatments 1 and 2 in the supervised groups submitted to treatment 1 and to treatments 1 and 2, with increases in the probability of the supervisee communicating followed by a decrease over time. The hypothesis was not validated in the group submitted to the 3 treatments.
 Research limitations/implications – The criterion for extracting the sample used was not confirmed, despite being compatible with the universe of respondents to the self-assessments applied by COAF; possible effects of the treatments on the quantities and proportion of suspicious transaction reports (STRs) and currency transaction reports (CTRs), as well as on the selected normative frameworks were not analysed; the effects of treatments on the quality of reports were not assessed.
 Practical implications – The methodology can be replicated for AML/CFT supervision of other obliged entities and persons, since supervisors, in order to fulfill their role, must have access to reports filed by their supervisees, observing the necessary measures to safeguard the confidentiality of their content.
 Social implications – The present piece of work favors transparency and social control over supervisors' performance in AML/CFT.
 Originality – This study innovates by proposing to measure the effectiveness of supervision in AML/CFT directly, through analysis of reports made by supervisees to COAF. No academic research exploring such an approach was found.

Ficha do documento

Tipo

Dissertação

Ano

2023

Instituição

Fundação Getulio Vargas

Fonte

Repositório da FGV

Idioma

Português

Acesso

Não informado

Identificador

oai:repositorio.fgv.br:10438/34366

Temas

Governança

Palavras-chave

Prevenção à lavagem de dinheiroPLD/FTPGAFIAvaliações mútuasUnidade de inteligência financeiraUIFAPNFDsSupervisãoRegulaçãoEfetividadeComunicações de operações suspeitasCOSmoney laundering preventionAML/CFTFATFMutual evaluationsFinancial intelligence unitFIUDNFBPsSupervisionRegulationEffectivenessSuspicious transaction reportsSTRsLavagem de dinheiroLavagem de dinheiro - PrevençãoGrupo de Ação FinanceiraConselho de Controle de Atividades Financeiras (Brasil)