Rather than expand its own membership in order to achieve this, over 180 states belong to eight FATF-Style Regional Bodies (FSRBs
), (114) which monitor and assist states' implementation of the recommendations.
He also commented on the partial lifting of sanctions on Iran: "The Eurasian Group (EAG), which is also an FSRB
similar to MENAFATF, announced following their plenary meeting that they discussed the observer status application of Iran and also approved future involvement of Iran as a 'specially invited participant' in future EAG plenaries.
While the focus of the FSRB
(2005) fell squarely on the definition, measurement and assessment of 'financial sustainability', it also considered council size, drawing various conclusions on compulsory amalgamation.
The implications of diminishing fiscal wellbeing in all Australian local government state and territory jurisdictions have been spelt out in detail in a number of state-based reports cataloguing substantial and growing local infrastructure maintenance and renewal backlogs (see, for example, FSRB
2005b; LGI 2006; WALGA 2006; LGAT 2007).
To this FATF/IMF/World Bank network has been added another set of institutions, the FATF-style Regional Bodies (FSRBs
), which increase involvement of countries in the AML/CTF regime.
Current initiatives by Financial Action Task Force, FATF-Style Regional Bodies (FSRBs
), the International Monetary Fund (IMF), and the World Bank to promote compliance with the FATF Recommendations
GAFISUD, along with all the other FSRBs
, is independent from the FATF.
Mutual Evaluation (ME): All FATF and FSRB
members have committed to undergoing periodic multilateral monitoring and peer review to assess their compliance with FATF's recommendations.
This assessment is very close to the conclusions of the South Australian FSRB
(2005) Final Report, which may be explained by the fact that Access Economics (2006a) worked as a key consultant in both inquiries.
(Financial Sustainability Review Board) (2005) Rising to the Challenge.
In South Australia, requisite expenditure was estimated to be in excess of $300 million (FSRB
2005), in Western Australia around $1.75 billion (WALGA 2006), and in Tasmania $29 million (LGAT 2007), whereas the nation-wide review undertaken by PWC (2006) estimated high, intermediate and low monetary values for Australian local government infrastructure restoration as a whole at about $15.3 billion, $14.5 billion and $12 billion respectively.
FATF-Style Regional Body (FSRB
): These bodies - which are modeled on FATF and are granted certain rights by that organization - serve as regional centers for matters related to AML/CFT.