WAR DISRUPTS AML – BUT CAN BE INSPIRATION TO TIGHTEN UP REGULATION AND PRACTICE, SAY EXPERTS
May 27th, 2022
Fighting money laundering is tough enough in peacetime, requiring the careful application of sophisticated and complex investigative techniques, so outbreaks of war can damage efforts to fight ML and terror financing. The chaos of war can also provide opportunities for financial crime and the laundering of its proceeds, including the evasion of sanctions.
Russia’s bloody invasion of Ukraine is a case in point. With the UN saying by May 10 alone, there have been 3,459 civilian deaths, the Financial Action Task Force (FATF) has condemned the war, highlighting ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.