FATF REPORT
February 1st, 2004
BY KEITH NUTHALLINTERNATIONAL financial experts have concluded that the insurance industry is particularly vulnerable to being exploited by money launderers, calling for an in depth study into how organised crime is abusing the sector.A report from the Financial Action Task Force (FATF) of the Organisation for Economic Cooperation and Development (OECD) has concluded it is "necessary to better understand how and to what degree the various parts of the insurance sector could be used by money launderers." Furthermore, FATF has called for "an increased effort" ...
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