FATF RELEASES GUIDANCE TO HELP PROFESSIONALS FOLLOW RISK-BASED APPROACH WHEN FIGHTING MONEY LAUNDERING
August 1st, 2019
AN increasing number of financial businesses and non-financial professions are acquiring onerous legal duties to detect money launderers and terror financiers. To ensure this work is effective, while not becoming overwhelmingly expensive, comprehensive risk-based strategies are being developed. Keith Nuthall reports.
THE FINANCIAL Action Task Force (FATF), the OECD-based global guardian of guidance on fighting money laundering, terrorist group financing, and – latterly – funding the proliferation of nuclear weaponry, has its work cut out.
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