AML INFORMATION SHARING POSES KNOTTY LEGAL AND PRACTICAL PROBLEMS FOR REPORTERS AND REGULATORS
November 23rd, 2022
The ability of obliged bodies to share AML/CFT intelligence with FIUs, law enforcement and each other, without breaching data protection rules and their own legitimate duty of care to clients is a knotty issue. But the importance of ensuring such intelligence does not remain in silos or its flow is restricted by having to be channeled through STRs to FIUs, which could be overloaded with data as a result, is increasingly recognised by key jurisdictions.
FATF released a report on the issue in July (1). It said that jurisdictions considering enhancing information ...
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