CONCERNS GROW ABOUT AML/CFT SYSTEMS BEING ABUSED FOR POLITICAL PURPOSES
June 21st, 2023
International AML/CFT rules and guidance have been designed to help governments crack down on criminals and terrorists, but there are few guiderails to prevent states from abusing these tools to target political opponents. Given the membership of FATF and FATF-style regional bodies, and the Egmont Group of FIUs is practically universal, that means AML/CFT systems are available to authoritarian states. Only outliers such as the Taliban’s Afghanistan, North Korea and latterly Russia, (suspended from FATF in February over its invasion of Ukraine) are outside the ...
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