FATF CHANGES RECOMMENDATIONS TO PUSH FOR MORE DIRTY MONEY CONFISCATION
November 22nd, 2023
FATF has released changes to its formal recommendations designed to push governments to ensure more money is seized and confiscated.
The global AML body will henceforth require governments to "establish asset recovery as a priority”, nationally and international in cooperation with other countries, periodically reviewing confiscation policies and programmes.
Revised guidance says governments “must coordinate and share information internally, to identify criminal property”.
Importantly, FATF will going forward insist on countries establishing “a ...
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