COUNTRIES WORLDWIDE FAILING TO TACKLE ML ENABLERS COUNTRIES WORLDWIDE FAILING TO TACKLE ML ENABLERS
January 24th, 2024
AML experts are increasingly concerned that jurisdictions worldwide are still failing to act against key enablers of money laundering, such as lawyers, trust and company service providers (TCSPs), accountants, estate agents, casinos and luxury goods traders, who ask no questions or ignore money laundering (ML). Lax regulation and a lack of enforcement have weakened implementation of two Financial Action Task Force (FATF) Recommendations on designated non-financial businesses and professions (DNFBPs): Recommendation 22 on customer due diligence and 23 on other ...
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